verdreifachen
to triple
To bring something to three times its amount, size, or number.
Das Unternehmen konnte seinen Umsatz im letzten Quartal verdreifachen.
The company was able to triple its revenue in the last quarter.

to triple
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to triple
To bring something to three times its amount, size, or number.
Das Unternehmen konnte seinen Umsatz im letzten Quartal verdreifachen.
The company was able to triple its revenue in the last quarter.

The verb follows a clear pattern: the prefix 'ver-' combined with a number and the ending '-fachen' means to multiply something by that factor. This pattern also works with other numbers, as in 'verdoppeln' (to double, x 2) or 'vervierfachen' (to quadruple, x 4).
Durch die neue Maschine konnten wir die Produktion verdoppeln.
With the new machine, we were able to double production.
Pay attention to the difference between the transitive and reflexive use. When a person or company actively triples something, the verb needs an accusative object. When a number or amount grows by itself, the reflexive pronoun 'sich' is used.
Die Firma hat ihren Gewinn verdreifacht.
The company tripled its profit.
The verb is usually used in the context of business, finance, or statistics. Typical nouns that are tripled are 'der Preis' (the price), 'der Umsatz' (revenue), 'der Gewinn' (profit), 'die Menge' (the amount), or 'die Anzahl' (the number).
Innerhalb eines Jahres haben sich die Preise für dieses Material verdreifacht.
Within one year, the prices for this material tripled.
to rise / climb
'steigen' and 'verdreifachen' both have to do with an increase. 'steigen' only says that something becomes more, higher, or stronger; the exact size of the change remains open. 'verdreifachen' is much more precise: something becomes three times as large, or someone makes it three times as large. That is why 'verdreifachen' only fits when this exact amount is meant. If you are only talking generally about an increase, 'steigen' is more natural.

In zwei Jahren hat sich die Zahl der Nutzer verdreifacht.
In two years, the number of users tripled.
Nach der Werbung steigen die Besucherzahlen auf der Webseite.
After the advertising campaign, visitor numbers on the website rise.