Dropbox takes care of business
Dropbox Business has come a long way since Shine signed on. The company has added API integrations with the likes of Salesforce.com, Workday, Okta and other key News Corp. partners. On Monday, the company added Smart Sync, which let users access their files, whether they are stored in the cloud or on their computer hard drive, and Dropbox Paper, a group collaboration feature. Paper improves employees’ ability to work together, a central focus for Box, Microsoft, Slack, Facebook and other vendors targeting enterprise teams.
With Dropbox solidified as employees' file-sharing tool of choice -- though Shine says the company also uses Slack -- News Corp. is migrating hundreds of terabytes of digital files and content stored on legacy systems to Dropbox. He hired cloud service provider Tervela, which specializes in completing high-speed data migrations with audit trails, to help with the task.
IDC says the file synchronization and sharing market will grow at a five-year compound annual growth rate (CAGR) of 17.6 percent from $2.4 billion in 2015 to $5.5 billion in 2020. Business file synchronization and sharing will grow at a CAGR of 17.9 percent to $3.6 billion in 2020.
Dropbox figures to be one of the great beneficiaries of this growth. The company, which says it has 200,000 paying customers, revealed on Monday an annual run rate of $1 billion.
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