Dropbox reaches $1bn in revenue and launches two new products

Home > Blog > Dropbox reaches $1bn in revenue and launches two new products
13 February, 2017

Dropbox will be launching two additional products, which emphasise cross-platform collaboration and storage.

Dropbox Product Launch

dropbox logo cloud storageThe cloud storage company further revealed that it has reached $1bn (£800m) in revenue at record pace. This is faster than any other software as a service (SaaS) vendor.

CEO of Dropbox, Drew Houston, made the announcement during a recent event in California.

While reaching the milestone is certainly an achievement, it still lags some way behind such competitors as Salesforce. The company had enjoyed its very first billion-dollar quarter four years ago. However, Dropbox now ranks among just five firms to reach the figure.

The new services, as described in a blog post on the company’s website, include Dropbox Paper. The beta service launch was in August, which enables collaboration. The other service is Smart Sync – once known as Dropbox Infinite – which is the first cross-platform, on-demand cloud storage service in the industry.

Houston said in a company statement:

“We’re redesigning Dropbox to be fundamentally designed for teams. We’re reinventing sync, bringing a modern collaboration experience to all your files, and launching Paper, a new way to work together that goes beyond the document…and we’re building this all on top of a strong business foundation.”

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