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The firm boasts over 600 million global users and its fiscal 2019 revenue jumped 19%.
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economy fight back against the coronavirus.ĭropbox is a cloud storage firm that helps create digital collaboration and has boosted its enterprise-level offerings. The positivity comes on the hopes that the $2 trillion stimulus package, alongside the Fed’s efforts will help the U.S. indexes posted their first back-to-back gains in a month on Wednesday. The announcement came on the same day Amazon unveiled a similar tool called WorkSpaces for large enterprises at an event in Las Vegas.Dropbox DBX stock popped Thursday, alongside the Dow, the S&P 500, and the Nasdaq, after all three major U.S. Administrators could also remotely wipe files from mobile devices connected to the corporate Dropbox. The corporate Dropboxes, which are controlled by the user’s employer’s IT administrators, would also have additional security tools such as logs that track when files have been opened or moved. Dropbox, valued at $4 billion by venture capital investors, is viewed as a hot prospect for an initial public offering within the next two or three years.ĭropbox said Wednesday it would let users store files in separate accounts in order to separate their personal and professional lives. The upgrades reflect the changing business focus at Dropbox - one of the most closely-watched privately held Internet companies - toward becoming a file-sharing solution for corporate customer, a critically important and lucrative market. The new features come at a time when large rivals like Microsoft Corp MSFT.O and Amazon Inc AMZN.O and smaller competitors are battling to win the cloud-storage market, which is widely seen as a strategic linchpin in the era of mobile computing. Drew Houston, CEO and Co-Founder of Dropbox, speaks on stage during a fireside chat session at TechCrunch Disrupt SF 2013 in San Francisco, California September 9, 2013.
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