Dropbox Inc. radically revamped its software lineup Tuesday in a bold bid to take on Microsoft Corp. and Google for supremacy in the market for productivity.
The San Francisco-based company, which went public last year, introduced a new desktop workspace and updates to its website and mobile app to combine files, work software and employee data. It also announced strategic agreements with Slack Technologies Inc., Zoom Video Communications Inc. and Atlassian Corp. to help extend Dropbox’s software reach into popular workspace functions.
“It is the most significant change to our product” since Dropbox was founded more than a decade ago, Quentin Clark, Dropbox’s chief technology officer, told MarketWatch. “The goal is to keep users more deeply engaged with our product as they share files in more ways.”
The move is considered crucial for Dropbox which made its name as a file-sharing service that once drew acquisition overtures from Apple Inc. and Alphabet’s Google, as more workspace activity moves to cloud-computing platforms.
Dropbox shares gained 1.4% in after-hours trading. Its stock is up 11% year-to-date, compared to the S&P 500’s 15% gain.