Dropbox lowers its paid tier to $10.99/month for 1TB data

Dropbox has long resisted the call to lower prices for its paid plans. CEO Drew Houston justified his company’s stalwart nature by saying that his millions of users don’t care about price if the value proposition is considerably higher.

Well, something must have changed at the world’s most popular cloud storage and backup company, because today Dropbox announced a revamp of its paid tier: a single Pro plan which costs $10.99 CDN per month, or $109 per year, for 1TB of storage.

Previously, Dropbox charged $10.99 for 100GB of space, so ten times the storage with no loss in functionality is a pretty compelling offer.

The move comes after Google and Microsoft lowered prices on their respective Drive and OneDrive cloud storage offerings. Google currently charges $9.99 USD per month for 1TB of space, while Microsoft has upped the ante ever further, asking only $2.50 USD for the same amount of space.

Dropbox’s price drop doesn’t come at the expense of features, either. In fact, the company is adding some compelling business-focussed offerings that should make the service more attractive to those who deal with clients.

New sharing controls allow passwords to be affixed to shared links, so an invoice or business plan is no longer just a click away. Shared links can also now expire, and Dropbox users that take advantage of shared folders can set read/write permissions on a per-folder basis.

Finally, Dropbox now makes it easy to remotely wipe files on a smartphone, tablet or laptop. They’ll still be safe in the cloud, but an unauthorized user will have read permissions revoked.

Existing users of Dropbox’s various paid plans will either be refunded for the difference between their current cost and the new $9.99 plan or be upgraded to the new 1TB storage number in the coming days.