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Dropbox on track for more than $1 billion in annual revenue: CEO
January 30, 2017 / 6:32 PM / 10 months ago

Dropbox on track for more than $1 billion in annual revenue: CEO

SAN FRANCISCO (Reuters) - File sharing and storage company Dropbox is on track to make more than $1 billion in annual revenue, company chief executive Drew Houston said at an event on Monday.

Drew Houston, co-founder and CEO of Dropbox, speaks at the Wall Street Journal Digital Live (WSJDLive) conference at the Montage hotel in Laguna Beach, California, October 21, 2015. REUTERS/Mike Blake

The San Francisco-based company has worked to build up its enterprise software offerings to improve its revenue, and on Monday unveiled new file synch and workplace collaboration tools to sell to businesses.

The revenue milestone may help the company better justify its $10 billion valuation as it approaches an initial public offering as early as this year.

Reporting by Heather Somerville; Editing by Chris Reese

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