File sharing

Box acquires file search tool Butter.ai

Box CEO and co-founder Aaron Levie. Photo: Kim Kulish/Corbis via Getty Images

File-storage company Box has acquired Butter.ai, a startup whose software lets users search within files across multiple work applications. Butter.ai will be shutting down its application as part of the deal.

Bottom line: Box's customers—other businesses—have to contend with an ever-growing amount of data and files, making it critical for workplace tool providers like Box to help them sift through and filter all that information.

Dropbox files for an IPO

Dropbox
Photo: Jaap Arriens / NurPhoto via Getty Images

Dropbox, a file storage and sharing company, has filed for a $500 million initial public offering.

  • Offering details: The San Francisco-based company plans to trade on the NASDAQ under ticker symbol DBX, with Goldman Sachs listed as left lead underwriter.
  • Financials: Dropbox is not profitable yet. It reported net losses of $210.2 million and $111.7 million in fiscal 2016 and 2017, respectively. Dropbox brought in $844.8 million in revenue during the fiscal year of 2016, and $1.1 billion in fiscal 2017.