Dive Brief:

• Dropbox CEO Drew Houston, speaking at the Bloomberg Technology Conference this week, said he plans to focus on business fundamentals and profitability, according to a Fortune report.

• Though the company is not yet profitable, Houston said the company is free-cash-flow positive, which captures how much cash a business has left over after paying for capital expenditures. 

• The file sharing company was valued at $10 billion two years ago, but many say it and several other tech start-ups have greatly inflated values. 

Dive Insight:

To continue the march toward profitability, Houston said he wants to better control spending, for one thing.

Costs, "can get away from you one day at a time; expenses that start small turn big,” Houston said, according to the San Francisco Business Times. “We're entering what I call the 'post-unicorn' era."

"In these boom times, you get really disconnected from the fundamentals," Houston said. "We’ll see which companies survive over the next 12 to 18 months."

In March, Dropbox announced it now has 500 million users globally. Of those, about 8 million of its users are businesses, though only about 150,000 of those are paying customers. The company did not say how many paying users it has in total. 

But Dropbox is working to expand its market share, leveraging relationships with large businesses to help boost its exposure. Last week, Dropbox and Hewlett Packard Enterprise announced plans to collaborate to help grow their respective businesses. 

Dropbox also recently announced it would collaborate with IBM to make it easier for SAP or Oracle core business application users to employ Dropbox with those systems. Dropbox and IBM have worked together for the past two years, but the partnership agreement signals they plan to take the collaboration more seriously.

The IBM partnership is not exclusive, however. IBM also works with Dropbox rival Box to offer end-to-end compliance for customer cloud content.