Five stage process with one phone interview and four in-person interviews. I wouldn't expect any less than five interviews and each one seemed fair and relevant to the role. The technical aspect of the interview process required a deep understanding and ability to explain dropbox's own infrastructure and core engineering principles. While I personally enjoyed learning this material, I feel the ask from them was a bit high; I would expect some on-the-job training and shadowing of other sales engineers before being examined on this.
What left a somewhat bad taste in my mouth was the time it took to get feedback on the interview process. Having invested a good bit of my own time and effort into the process, it was a bit frustrating to be left waiting for over a week without another feedback (even after following up). It seems like a great company, great people and great perks but without sounding bitter, that took the shine off the company and made the rejection a little easier to take.