Drop (formerly Massdrop) is an American e-commerce company based in San Francisco, California. In July 2023, Corsair purchased Drop, while retaining its original brand and staff.
History
Drop founders Steve El-Hage and Nelson Wu met in Toronto, Canada, where El-Hage was studying economics at the University of Toronto.[1] The two had grown up using online forums as a way of exploring their hobbies, but believed these forums had many shortcomings, including disorganized meetups and unreliable group buys.[2] They thought that by combining their forum experiences with their interest in bulk buying, they could create a site that would better support their enthusiast in communities.[3] The pair moved to Silicon Valley, where they met Will Bright and started Massdrop in 2012.[1]
Drop changed its name from Massdrop in April 2019.
On July 17, 2023, Corsair announced it had acquired Drop.[4]
Business model
Initially, Drop sold products exclusively from existing manufacturers. Drop would organize and facilitate group buys for their community members.[5] They allowed community members to influence the products chosen to be sold through forums and polls.[6] Drop originally worked with various communities, but have since primarily sold products relating to the mechanical keyboard and audiophile communities.
The company has since introduced their own exclusive products,[7] collaborations,[5] and private-label products under the names Drop and Drop Studio.[8]
Past Drop products
Past products include the Massdrop x Sennheiser HD 6XX headphones,[6] Massdrop x Sennheiser HD 58X headphones,[9] Massdrop CTRL Mechanical Keyboard,[10] Massdrop x Sennheiser PC37X gaming headset,[11] Massdrop x Koss ESP/95X,[12] among others.
Funding
In September 2014, Drop raised $6.5 million in a Series A round led by Mayfield Fund with additional investment from previous backers Kleiner Perkins Caufield & Byers, First Round Capital, and Cowboy Ventures.[1][13] In August 2015, the company secured $40 million in Series B funding led by August Capital with additional investment from Mayfield Fund, First Round Capital, and Cowboy Ventures.[14][15]
