

At that scale, any kind of cost savings would help improve its bottom line. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. The company wrote in the email that employee perks in total have been costing Dropbox at least $25,000 a year for each employee. Those changes will have a direct impact on Dropbox's profitability. (Previously it was unlimited, a big perk given its open bar on Fridays.)

and limiting the number of guests to five a month. In a company-wide email in March, Dropbox said it was cancelling its free shuttle in San Francisco and its gym washing service, while pushing back dinner time by an hour to 7 p.m. If you spot other ways we can help Dropbox save, please share them,” the note said, providing a special email address for cost-saving tips.


"We're keeping the panda as a company-wide reminder of the importance of both our past and future in thoughtful spending - but it's just one example. A weaker VC funding environment and freezing tech-IPO market have forced startups of all sizes to take cost-cutting measures and focus more on profits - signifying a shift in the free-spending, growth-at-all-cost culture that had seeped through Silicon Valley over the past few years. The change at Dropbox, last valued at $10 billion, shows even the most richly valued and highly funded startups are no longer immune to the changing tides of Silicon Valley. The message was clear: Dropbox was ready to join the multitude of startups that have started to cut back in an effort to inch closer to profitability. And while it's okay for us to have nice things, it's important to remember to ask ourselves, 'would I spend my own money this way?'" “When it comes to building a healthy and sustainable business, every dollar counts. “Pandas have meant many things to Dropboxers over the years, and the idea here was to commemorate the original…it wasn’t the right call,” the note said. But next to the statue, which one source said was rumored to cost $100,000, was a little memo that offered an interesting footnote about the sculpture:
