Drop (company)
| Company type | Private |
|---|---|
| Industry | E-commerce |
| Founded | 2012 |
| Founder | Steve El-Hage, Nelson Wu, Will Bright |
| Headquarters | San Francisco , United States |
Area served | United States |
| Products | Mechanical keyboards, audiophile products, exclusive collaborations, limited-edition products, proprietary merchandise |
| Owner | Corsair |
| Website | drop |
Drop (previously known as Massdrop) is a U.S.-based e-commerce firm headquartered in San Francisco, California. In July 2023, Corsair completed the acquisition of Drop, maintaining both its brand identity and workforce.
History
The founders, Steve El-Hage and Nelson Wu, first connected in Toronto while El-Hage pursued economics studies at the University of Toronto. They recognized inefficiencies within online hobbyist communities, such as poorly coordinated meetups and unreliable group purchasing systems. Their goal was to merge community interaction with collective buying power to better serve enthusiasts. After relocating to Silicon Valley, they teamed up with Will Bright and officially launched Massdrop in 2012.
In April 2019, the company transitioned its name from Massdrop to Drop.
On July 17, 2023, Corsair publicly announced its acquisition of Drop.
Business model
Originally, Drop facilitated group purchases of products from established manufacturers for its user base. Product choices were shaped by active community participation through forums and voting mechanisms. While initially catering to a broad range of enthusiast groups, Drop has since concentrated its focus primarily on mechanical keyboard and audiophile segments.
The company has since diversified its offerings to include exclusive collaborations, limited-edition products, and proprietary merchandise under the Drop and Drop Studio labels.
Previous products
Notable past items include the Massdrop x Sennheiser HD 6XX and HD 58X headphones, the Massdrop CTRL Mechanical Keyboard, the Massdrop x Sennheiser PC37X gaming headset, as well as the Massdrop x Koss ESP/95X headphones.
Funding
In September 2014, Drop secured $6.5 million during a Series A funding round led by Mayfield Fund, with additional investments from Kleiner Perkins Caufield & Byers, First Round Capital, and Cowboy Ventures. The following year in August 2015, the company raised $40 million in Series B financing spearheaded by August Capital alongside returning investors Mayfield Fund, First Round Capital, and Cowboy Ventures.