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Is Dropbox worth $8B??

Dropbox is taking the adage, "Believe in yourself and others will believe in you too" to a new level as hopes to double the value investors placed on the company in late 2011 giving the online storage service a value of around $8 billion.  Recently, Dropbox announced plans for Dropbox for Business... an enterprise solution and the WSJ reported that Dropbox earned $116 million in revenue last year. Is a company that can be taken over by Google Drive and has a technology that is easily duplicated really worth such a high valuation?