Its CEO, Drew Houston is a Massachusetts native who graduated from MIT and first pitched his idea - a service that would let people store. Secretary of State Condoleezza Rice.ĭrew Houston has a net worth of $1.2 billion. Consider the case of file storage service, Dropbox. Other high profile names that stand to win big in the Dropbox IPO include co-founder Arash Ferdowski, venture capital firms Sequoia Capital and Accel, the board of directors – which includes former HP CEO Meg Whitman and former U.S. Dropbox lost $11 million on $1.1 billion in 2017. The S-1 filing shows that while Dropbox's annual performance has been improving, it is still not a profitable company. Formerly, she was chairman and CEO of The Dun & Bradstreet Corporation, where she transformed the business by leveraging customer-focused technology. She currently sits on the boards of Freddie Mac, State Street, and XOS. That puts them worth $891 million.īasically, Houston stands to gain a lot by hanging onto those shares and keeping Dropbox a hot company. Sara brings years of experience driving growth and innovation. Class B shares were valued at $7.01 each at the end of last year. Class B stock offers more voting power than the Class A shares that will be sold to the public. Houston also holds 127 million shares of Class B stock in addition to the grant. If Houston hits that target – and hangs onto all of the shares he was given, that would amount to $930 million.
The highest share price targeted in the grant is $60 a share. That would be roughly $62 million for Houston. About 3.1 million of Houston's shares will vest after January 1 st (once the lock-up period on insider selling ends) if Dropbox's shares hit $20. Drew tells Bloomberg that in the "fragmented experience" of today's digital workplace, "the most important thing is keeping a team on the same page.”įrom his early days with Arash at Y Combinator, to meeting their first investor in a rug shop, learning from mentors like Marc Benioff and Mark Zuckerberg, and growing personally as a CEO, Drew talks candidly in a Business Insider “ Success! How I Did It” podcast.Houston could see some of the cash from that grant by next year. Now, he says, "we want to move up the stack, move beyond storage.” Paper, the new collaboration app, is an example of this. Instead, Dropbox went on to become the fastest SaaS company to achieve $1 billion in revenue run rate and build its own infrastructure. in a “ Notes to My Younger Self” video that he was relieved Steve Jobs thought he and co-founder Arash Ferdowsi had “built a great product," but says it “would have been a pretty big financial mistake” to sell the young company to Apple in 2008. Magazine to put it all in context.ĭrew tells Inc. Following the Dropbox tenth anniverary in May, CEO Drew Houston sat down with reporters from Bloomberg Business Week, Business Insider, and Inc.
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