During the Q3 conference call, Charif mentioned that they've launched a new product very recently in close beta with a few customers. A proper announcement will come either in Nov 2022 or Jan 2023.
*spoiler alert*
It's probably a backup service for QuickBooks Online. I found the following page trawling Dropsuite's sitemap.xml as one does.
Source: https://dropsuite.com/products/quickbooks/
Intuit's QuickBooks is America's Xero. Intuit is a US$110B+ behemoth. There is a really good Business Breakdown podcast episode about the company: https://overcast.fm/+rra5Psd80.
The service description and its copy writing appears very similar to a product offered by Rewind Software: https://rewind.com/products/backups/quickbooks-online/. Rewind is a VC-backed backup software company. It has raised around US$80m since its inception in 2015 and has an estimated valuation of US$260-390m (dealroom.co).
Rewind charges US$14/file/month (https://rewind.com/pricing-backups/). Not exactly sure what a QuickBooks "file" is, and whether you'd typically keep a file for each legal entity you need to do the accounts for.
Immediately my mind wonders to the size of the opportunity to cross-sell to the current user base. Assuming a whole bunch of things (lots of room for error): 886k users, 20 people average organisation size, 1 Quickbooks "file" per organisation, charge US$8/file/month to backup... 886,000 / 20 x 8 x 12 = US$4.25m cross-sell opportunity perhaps maybe?
Interested in hearing what others think about this. Any insights on Quickbooks and what a "file" is would also be much appreciated!