Since its inception on March 1st, e-mail backup platform DropMyEmail has seen 520,000 users sign up, a substantial level of growth for a new startup. The DropMyEmail freemium service basically copies existing user IMAP and POP3 email accounts and stores all of the data in its cloud. Yahoo, Hotmail, Gmail, etc. users initially get 500mb of storage for free, and can upgrade to 5gb or 10gb accounts at $9.99 and $19.99 per year respectively. There is also a free up to 2GB user referral perk, which is likely helping the service to spread like wildfire.
The company is based in Singapore, and has so far received seed funding from Crystal Horse Investments, Stanley Street Labs and other individual investors $290,000. CEO and founder John Fearon states, “People are using e-mail across the web and mobile more than ever. It only takes two clicks to back up your e-mail, and people are responding to how simple it is.” Fearon projects a global user base up 1 million within 3 months – growth that not even Twitter has seen. So far, 20% of users live in India, and U.S. clients only account for 2-3%. Fearon also points out that though the vast majority of its users are using the free service, roughly 10% are about to exceed their limits.
DropMyEmail seeks to open a new office in San Francisco, and likely won’t have much of a problem getting more funding, considering its rate of growth. I tried out the service – the 2gb referral bonus comes in 24mg increments. This equates to the annoyance of many internet friends.