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  "documentTitle": "Dropbox, Inc. (DBX)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-02-06 00:00:00",
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  "notes": "Uses a screenshot of a forum to provide primary source evidence for the contradiction.",
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      "kind": "callout",
      "text": "CFO Vashee Q3’19 Conf Call: “We announced a number of new product features across our Plus and Professional plans and with the additions we made to our Plus plan, we raised the price of that SKU by approximately 20%. We're happy to announce that those enhancements are being well received by our customers.”",
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      "text": "If churn is truly stable, or improving, it appears at odds with the fact that the “Most Liked Topics” in the Dropbox forum is customer complaints about price increases.",
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      "text": "If churn is truly stable, or improving, it appears at odds with the fact that the “Most Liked Topics” in the Dropbox forum is customer complaints about price increases. This supports our belief that additional price hikes to bolster ARPU will be difficult to implement, and churn is likely to increase. The CFO’s recent comments call into question his credibility toward accurately depicting the affairs of the Company.",
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      "text": "Source: Dropbox",
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      "text": "Blowback From Price Hikes Evident",
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