They had a terrific product that worked well in ~2013, but they haven't innovated since then (TBH, not sure what "innovation" means in the file-sync space.) Although Y-o-Y revenue is mostly flat, I'm a little surprised that they still brought in $630M the last quarter, and that they still have 2,000 employees. Looking at what Dropbox does, I would have guesstimated they were a 250-person company.

All the best to their employees, but I think a big round of layoffs will be coming within the next couple of quarters.