(Bloomberg) -- Since attaining a $10 billion valuation from investors in 2014, Dropbox Inc. has become a symbol of unicorn startup exuberance. But several shareholders have recently written down the value of their investments in the cloud storage company while it cut costs and focused on generating more revenue.
Drew Houston, Dropbox's chief executive officer, now declares that we're "entering the post-unicorn era." Unicorn startups, those valued at $1 billion or more, will need to focus on creating healthier businesses as venture capital and other sources of private-market funds dry up, he said Tuesday onstage at the Bloomberg Technology Conference in San Francisco.
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