- Dropbox filed its S-1 on Friday, revealing plentiful details about who owns stakes within the $10 billion report sharing corporate.
- Among its largest shareholders are CEO Drew Houston and his co-founder Arash Ferdoswi.
- Perhaps extra unexpected even though: Former HP Enterprise CEO Meg Whitman and previous US Secretary of State Condoleezza Rice each have a work of the pie.
In its S-1 submitting with the Securities and Exchange Commission, Dropbox printed its largest shareholders. That comprises Houston’s cofounder Arash Ferdowski, the mission capital companies Sequoia Capital and Accel, two advisory companies and the corporate’s board of administrators.
And the Dropbox board of administrators comprises some high-profile figures, together with former HP Enterprise CEO Meg Whitman and previous United States Secretary of State Condoleezza Rice. Indeed, the submitting finds that Rice, in particular, these days holds 22,356 Class B stocks of Dropbox.
With the corporate valuing every of the ones stocks at $7.01 as of the top of 2017, that makes Rice’s stake price about $156,000. And her stake may get way more precious, relying on how Dropbox’s IPO plays.
Here’s who else stands to get rich off of Dropbox’s public providing:
Drew Houston, Dropbox CEO and co-founder, holds a ownesrship stake within the corporate of 25.five%, giving him 24.four% of all vote casting energy on the corporate. Arash Ferdowsi, Houston’s co-founder, has 10.three% of possession in Dropbox, giving him nine.eight% of all vote casting energy at Dropbox.
Otherwise, particular person executives and participants of the board of administrators personal lower than 1% of Dropbox. However, Dropbox does say that each one of its administrators, and all of its executives, all in combination, personal 36.6% of the corporate, with 35.five% vote casting energy.
Besides Rice and Whitman, Dropbox board participants come with Donald W. Blair, director of the fabric science corporate Corning Incorporated and the previous CFO at Nike; Bryan Schreier, a spouse at Sequoia Capital; Paul E. Jacobs, the chief chairman of Qualcomm; and Robert J. Mylod, Jr, managing spouse at Annox Capital Management and the previous CFO at Priceline Group. They all hang a modest stake within the corporate, integrated in that 36.6% determine.
The remainder of the most important Dropbox shareholders come from the sector a big gamble capital.
Sequoia Capital, which led Dropbox’s Series A spherical in 2008, owns 23.2% of the corporate with 24.eight% vote casting energy. Accel owns five% of the corporate with five.three% vote casting energy. T. Rowe Price owns three.five% of Dropbox, with 2.2% vote casting energy. Finally, Green Bay Advisors owns lower than 1% of the corporate general, however eight.2% of Class A stocks.
After the IPO, a majority of these primary shareholders could have the danger to money out and make excellent on their funding. Or, in all probability, they might make a choice to hold on and spot if Drew Houston can reach his formidable objective of having the corporate as much as $60 a proportion— at which level, he’d personal much more of the corporate.