MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Drew Houston to Become the Silicon Valley's Newest Hotshot

Drew Houston to Become the Silicon Valley's Newest Hotshot

The California based cloud service platform, Dropbox is going public and the CEO is about to cash in. Recently, Dropbox has filed an S-1 paperwork for its much-awaited IPO and in the documents, it was revealed that Drew Houston has made around $110 million in cash and stock in 2017.

The total compensation of Houston's package breaks down to $400,000 in base salary and a cash bonus of $260,000. The bulk of his salary came from a restricted stock grant in which a 15.5 million share grant was valued at $109.6 million by Dropbox. Giving each share a price of roughly $7.07, Houston stands to gain a lot by holding onto the shares in the grant as they will vest in the next 4-10 years, depending on when the company's stock hits certain prices.

Drew Houston, who turned 35 on March 4th, could see some of the cash from that grant by next year. If his company’s shares hit $20, then about 3.1 million of Houston's shares will vest after 1 January 2018. And that would be roughly around $62 million for Houston.

So, by keeping Dropbox a hot company, Houston is now aiming to gain a lot by hanging onto shares he was given which would amount to $930 million. But, according to the S-1 filing, even though Dropbox's annual performance is improving, the company is still not profitable.

Some of the big names that are also standing to gain big in the Dropbox IPO include Arash Ferdowski, co-founder of the venture capital firms, Sequoia Capital and Accel, the board of directors – which includes former CEO of HP, Meg Whitman and former U.S. Secretary of State, Condoleezza Rice.

YOU MAY ALSO LIKE

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...

RECOMMENDED