Mar 22, 2018 Dropbox, the file storage and sharing application popular with consumers, raised the price of its shares to $21.00, according to a source cited by CNBC. Follow Crunchbase News on Twitter & Facebook. Dropbox is set to make its public market debut tomorrow, Friday. The offering is 25-times oversubscribed, according to CNBC‘s source.
- Houston (/ ˈ h aʊ s. T ən /; born March 4, 1983) is an American Internet entrepreneur, and the co-founder and CEO of Dropbox, an online backup and storage service. According to Forbes, his net worth is about $2.2 billion. Houston held 24.4 percent voting power in Dropbox before filing for IPO in February 2018.
- View Dzmitry Markovich’s profile on LinkedIn, the world’s largest professional community. Dzmitry has 5 jobs listed on their profile. See the complete profile on LinkedIn and discover Dzmitry.
- Dropbox provides secure file sharing, collaboration, and storage solutions. It aims to unleash the world’s creative energy by designing a more enlightened way of working. 500 million registered users around the world use Dropbox to work the way they want, on any device, wherever they go.
- From The Crunchbase Daily: Dropbox raises $756M in IPO File sharing and storage unicorn Dropbox raised the price of its shares to $21 as the company preps for its market debut this morning. The 11-year-old company sold 36 million shares, raising $756 million.
|Born||October 7, 1985 (age 35)|
Overland Park, Kansas, US
|Net worth||US$1.1 billion (April 2018)|
Arash Ferdowsi (Persian: آرش فردوسی, born October 7, 1985) is an Iranian-American billionaire entrepreneur. He is the co-founder of Dropbox.
Early life and education
Ferdowsi was born in Overland Park, Kansas, US on 7 October 1985, the son of Iranian immigrants Gholam Ferdowsi (b. 1950) and Tahmineh 'Tammy' Faridazar (b. 1959). Ferdowsi's father, a mortgage broker, is a native of Tabriz in northwestern Iran. His parents settled in the US following the 1979 Iranian Revolution, then met and married in 1984 while students at the University of Central Missouri and the University of Missouri–Kansas City, respectively.
He attended Blue Valley Northwest High School, a public high school in Overland Park, graduating first in his class in 2004. Ferdowsi went on to study electrical engineering and computer science at the Massachusetts Institute of Technology (MIT), dropping out of his program in his last year to focus on his business.
Ferdowsi launched Dropbox in June 2007 with his business partner, Drew Houston, at Massachusetts Institute of Technology. In September 2007, Ferdowsi moved his company to San Francisco and raised venture capital from Sequoia Capital, Accel Partners, Y Combinator, and a handful of individual investors. In March 2018, Dropbox underwent an initial public offering, valuing the company at around US$9.2 billion.
From the company's establishment in June 2007 until October 2016, Ferdowsi served as the chief technology officer (CTO) of Dropbox. In 2020 he left the company.
Awards and highlights
- Inc. Magazine named Ferdowsi to its 2011 '30 Under 30' top entrepreneurs list.
- Fortune Magazine named Ferdowsi to its 2011 '40 Under 40' list.
- TechCrunch awarded Ferdowsi a Crunchie for 'Founder Of The Year'.
- ^'Dropbox Stock Pop Puts Kansas Native in Tech Billionaires Club'. Forbes. Retrieved 1 April 2018.CS1 maint: discouraged parameter (link)
- ^Arash Ferdowsi CrunchBase Profile. Crunchbase.com. Retrieved on 2012-07-14.
- ^'Blue Valley Northwest grad is a billionaire, thanks to the tech company he founded'. The Kansas City Star. 28 March 2018. Retrieved 3 April 2018.CS1 maint: discouraged parameter (link)
- ^'Meet the richest area native you've probably never heard of'. The Kansas City Star. 9 February 2013. Archived from the original on 8 March 2013. Retrieved 3 April 2018.CS1 maint: discouraged parameter (link)
- ^ abcCarter, Nicole (2011-06-27). 'Inc.com 30under30: Drew Houston and Arash Ferdowsi, Founders of Dropbox'. Inc.com. Mansueto Ventures. Retrieved 5 November 2011.CS1 maint: discouraged parameter (link)
- ^'Dropbox Priced at $21 a Share in I.P.O., Valuing Company at $9.2 Billion'. New York Times. 22 March 2018. Retrieved 6 April 2018.CS1 maint: discouraged parameter (link)
- ^'Dropbox appoints new CTO, Aditya Agarwal, takes over for cofounder Arash Ferdowsi'. Venture Beat. 13 October 2016. Retrieved 3 April 2018.CS1 maint: discouraged parameter (link)
- ^'Dropbox's Billionaire Co-Founder Arash Ferdowsi, Ex-MIT Student, Leaves Company'. Retrieved 12 April 2021.CS1 maint: discouraged parameter (link)
- ^'40 Under 40 - Drew Houston and Arash Ferdowsi'. money.cnn.com. Fortune. Retrieved 1 January 2012.CS1 maint: discouraged parameter (link)
- ^Constine, Josh (2014-02-11). 'Dropbox's Cloud Storage Kings Drew Houston And Arash Ferdowsi Win Founder Of The Year Crunchie'. TechCrunch. TechCrunch. Retrieved 22 February 2012.CS1 maint: discouraged parameter (link)
An American Internet entrepreneur, and the co-founder and CEO of Dropbox
|Born||March 4, 1983 (age 38)|
|Education||Massachusetts Institute of Technology|
|Known for||Co-founder and 25% owner, Dropbox|
|Net worth||$2.2 billion (May 2019)|
Andrew W. Houston (/ˈhaʊs.tən/; born March 4, 1983) is an American Internet entrepreneur, and the co-founder and CEO of Dropbox, an online backup and storage service. According to Forbes, his net worth is about $2.2 billion. Houston held 24.4 percent voting power in Dropbox before filing for IPO in February 2018.
Houston was born in Acton, Massachusetts in 1983. He attended Acton-Boxborough Regional High School in the 1990s. He later graduated with a degree in Computer Science from the Massachusetts Institute of Technology (MIT), where he was a member of the Phi Delta Theta fraternity. It was there that he met Arash Ferdowsi who would later go on to be co-founder and CTO of Dropbox.
During his time in college, Houston co-founded a SAT prep company.
Before working on Dropbox, Houston worked on a number of other startups which include Bit9, Accolade and HubSpot.
Houston and Ferdowsi co-founded Dropbox in 2007. Houston currently is CEO and 25% owner of Dropbox.
In February 2020, Houston joined the board of directors of Facebook, replacing Netflix CEO Reed Hastings, who left in May 2019.
Houston was named one of the 'most promising players aged 30 and under' by Business Week, and Dropbox has been touted as Y Combinator's most successful investment to date. Houston was also named among the top 30 under-30 entrepreneurs by inc.com, and Dropbox has been called one of the 20 best startups of Silicon Valley.
In June 2013, MIT invited Houston to serve as speaker at its annual commencement ceremonies. In his remarks, Houston gave this advice:
They say that you're the average of the five people you spend the most time with. Think about that for a minute: who would be in your circle of five? I have some good news: MIT is one of the best places in the world to start building that circle. If I hadn't come here, I wouldn't have met Adam, I wouldn't have met my amazing cofounder, Arash, and there would be no Dropbox.One thing I've learned is surrounding yourself with inspiring people is now just as important as being talented or working hard. Can you imagine if Michael Jordan hadn’t been in the NBA, if his circle of five had been a bunch of guys in Italy? Your circle pushes you to be better, just as Adam pushed me.
Houston lives in San Francisco, California.
In April 2013, a lobbying group called FWD.us (aimed at lobbying for immigration reform and improvements to education) was launched, with Houston listed as one of the founders.
In 2016, he endorsed Hillary Clinton in the 2016 United States presidential election.
Dropbox Crunchbase Free
- ^ abcd'Forbes profile: Drew Houston'. Forbes. Retrieved May 4, 2019.
- ^'S-1'. www.sec.gov. Retrieved February 25, 2018.
- ^'Phi Delta Theta: Fraternity / Become The Greatest Version of Yourself™'. Phi Delta Theta Fraternity. Retrieved October 11, 2018.
- ^Bernard, Zoë (October 4, 2018). 'The rise of Dropbox CEO Drew Houston, who just made the Forbes 400 after taking his company public'. Business Insider. Retrieved February 3, 2020.
- ^'crunchbase.com'. crunchbase.com. Retrieved October 11, 2018.
- ^ abPalmer, Annie (February 3, 2020). 'Dropbox CEO Drew Houston joins Facebook's board of directors'. CNBC. Retrieved February 3, 2020.
- ^Roettgers, Janko (April 12, 2019). 'Netflix CEO Reed Hastings Is Leaving Facebook's Board'. Variety.
- ^'Drew Houston'. Retrieved April 15, 2010.
- ^'Who Is In The New Billion Dollar Valuation Club?'. techcrunch.com. Retrieved October 11, 2018.
- ^'30 Under 30 2011 - Honorees'. inc.com. Retrieved October 11, 2018.
- ^'Drew Houston and Arash Ferdowsi, Founders of Dropbox - Inc.com'. www.inc.com. June 27, 2011. Retrieved October 11, 2018.
- ^'Silicon Valley Startups'. Retrieved April 15, 2010.
- ^'Drew Houston commencement remarks'. Retrieved June 11, 2013.
- ^'Our supporters'. FWD.us. Archived from the original on April 16, 2013. Retrieved April 17, 2013.
- ^Nelson, Louis. 'Hillary Clinton racks up business endorsements'.