Today we announced that the fastest SaaS company ever to reach a $1 billion revenue run rate! /Rn13KiwnyGĭropbox is working hard to justify the frothy $10 billion valuation it gained with its last round of venture funding in 2014, especially in advance of an anticipated initial public offering (IPO) this year.īut Houston could have a secondary motive: he may be emphasizing his company's financial stability to calm the nerves of enterprise IT managers who want assurance they can depend on the cloud-based productivity and collaboration tools they select for the long haul.īy 2018, Gartner predicts, 70 percent of today's enterprise file sync and share (EFSS) destination vendors will be out of business. Dropbox, he said, reached this milestone faster than any other Software-as-a-Service (SaaS) company including Salesforce, Workday, ServiceNow and athenahealth. Sales are up, Dropbox has been cash-flow positive about a year and the company is gaining a more mature reputation, largely because of growing sales of Dropbox Business.Īt the event yesterday, Houston said Dropbox has passed $1 billion in annual revenue run rate - revenue over a short time period extrapolated over a full year. In the past few years the company has shifted away from its roots as a free file storage service used largely by individuals with products intended to win the support of the corporate community.

The Dropbox Dilemmaįounded by Houston and Arash Ferdowsi - both MIT engineers - in 2007, Dropbox is a cross-platform cloud storage solution. He suggested the products not only represent a new phase in Dropbox's evolution to a business-focused platform but a leap ahead for companies that want to store documents on physical servers they don’t need to maintain. Dropbox is doubling down on its bet on the digital workplace with two new features designed especially for businesses rather than consumers.Īt a press event in San Francisco yesterday, Dropbox co-founder and CEO Drew Houston positioned the new tools - Smart Sync, which lets users see documents in the Dropbox cloud without the need to download them, and Paper, a note-taking app designed for team collaboration - as keys to new ways of working.

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