Drop (formerly Massdrop) is an American e-commerce company based in
San Francisco
San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...
, California.
Drop uses data and insights from community to develop and find products that feed their interests in audio products and mechanical keyboards. The Drop community can also learn, share, shop with others, and participate in product development through polls, discussions, and interest checks.
History
Drop founders
Steve El-Hage and Nelson Wu met in
Toronto
Toronto ( ; or ) is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the List of the largest municipalities in Canada by population, most pop ...
, Canada, where El-Hage was studying economics at the
University of Toronto
The University of Toronto (UToronto or U of T) is a public research university in Toronto, Ontario, Canada, located on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institu ...
.
The two had grown up using online forums as a way to explore their hobbies, but believed these forums had many shortcomings, including disorganized meetups and unreliable group buys.
They thought that by combining their forum experience with their interest in
bulk buying, they could create a site that would better support enthusiast communities.
The pair moved to
Silicon Valley
Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo Count ...
, where they started Massdrop in 2012.
Drop changed its name from Massdrop in April 2019.
Business model
Initially, Drop sold products exclusively from existing manufacturers. Intending to provide a collaborative environment, users were able to purchase as a group and influence the types of products sold, through participation in polls, community discussions, and posts.
The company has since introduced exclusive enthusiast targeted private label products under the Drop name.
Past Drop products
Past products include the Massdrop x Sennheiser HD 6XX headphones,
Massdrop x Sennheiser HD 58X headphones, Massdrop CTRL Mechanical Keyboard, Massdrop x Sennheiser PC37X gaming headset, Massdrop x Koss ESP/95X, among others.
Funding
In September 2014, Drop raised $6.5 million in a Series A round led by
Mayfield Fund
Mayfield, also known as Mayfield Fund, is a US-based venture capital firm that focuses on early-stage to growth-stage investments in enterprise and consumer technology companies. Founded in 1969 and based in Menlo Park, California, it is one of S ...
with additional investment from previous backers
Kleiner Perkins Caufield & Byers
Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneur ...
, First Round Capital, and Cowboy Ventures.
In August 2015, the company secured $40 million in Series B funding led by August Capital with additional investment from Mayfield Fund, First Round Capital, and Cowboy Ventures.
References
External links
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Drop on FacebookDrop on Twitter
{{DEFAULTSORT:Drop
Online retailers of the United States