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

Reuters

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.

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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