OfficeDrop Announces 9x Year-Over-Year Revenue Growth

CAMBRIDGE, MA--(Marketwire - Nov 3, 2011) - This ain't your momma's momentum release. OfficeDrop's been growing like gangbusters since the switch from a mail-in scanning service to a scan-your-own-way-to-the-cloud app powerhouse last year. We're talking 50 percent month-over-month user growth for the past quarter! Not to mention being on track for 9x revenue growth in 2011 vs 2010.

"But, how'd they do it," you ask?

Let's kick it back to the beginning. It all started with this thing called the interwebz. And it was good. Field of Dreams style they built it and people came. Our CEO Prasad Thammineni said, "Why don't small businesses store, search, and share their paper documents on this interwebz? In the cloud. Dig it!"

[Just kidding.] Here's the real deal:

A Major Shift in Strategy
OfficeDrop used to be a mail-in scanning service. Mail us your paper and we'll scan it for you. Then the definition of a small business "office" changed altogether. With smartphones and tablets, the office became omnipresent. Like "Friday, Friday" was earlier this year (shout out to our co-founder, Anand Rajaram, who loves Rebecca Black a little too much).

OfficeDrop quickly adapted to the way people were working by building scanner apps for iPad, Android phones and iPhones this year. We redefined the industry by letting people have a scanner in their pocket, everywhere they go.

But we didn't hate on the office scanner. ScanDrop, our desktop scanner app for Windows and Mac, has been connecting customers to our digital filing cabinet, OfficeDrop Online and other popular cloud services they access most, like Gmail, Google Docs, Evernote and Dropbox. Also we provide document management for the popular FreshBooks invoicing software. It's super easy. That's how we roll.

Here's how our growth stacks up for those of you "numbers people" out there:

• In 2011, we've added 50,000 new customers to our digital filing cabinet...
• Plus, 40,000 new installs of our ScanDrop desktop scanning app
• Mobile apps account for 90 percent of our daily new users (wowza!)

Cracking the Small Business Market
"We found that small businesses tend to purchase from companies they trust most," said our super-smart aforementioned CEO, Thammineni. "Not just the Staples-type stores, but also companies like Nuance, whose PaperPort offering is shipped along with millions of scanners throughout the world. So we started partnering up with these trusted companies to bring their software to the cloud, and co-branding our offerings with theirs."

Work with awesome companies that small businesses trust, but need to move to the cloud. That's been our strategy this year in a nutshell. [Strategy: "Help, get me out of this nutshell!" Ugh, sorry. That Austin Powers reference was pretty dated. We need to get out more.]

But seriously. Our partners find that we're able to scale really quickly to meet the scanning, search, sharing and storage demands of millions of users, and bring traditionally very "offline" types of software to the cloud. In English -- we can do this stuff really fast and really well.

So, that's our story. We're sticking to it. Here's to another killer year.

About OfficeDrop
OfficeDrop makes it easy for small businesses to scan paper to the cloud and access documents from anywhere, at any time, from any device. OfficeDrop's cloud filing cabinet lets users sort, search and share documents- giving paper new life and making documents collaborative. Headquartered in Cambridge, MA, OfficeDrop was founded in 2007. For more information, visit www.officedrop.com.