Drew Houston, who co-founded Dropbox in 2007 and has served as its chief executive ever since, is stepping down from the role, according to CNBC.
What we know so far
Houston built Dropbox out of a project he started while studying at MIT. The idea was deceptively simple: make file storage and sharing work seamlessly across devices. That concept grew into a platform now used by over 700 million people worldwide.
The company went public in 2018, a milestone that cemented Dropbox’s position in the competitive cloud storage market alongside heavyweights like Google Drive, Microsoft OneDrive, and Apple’s iCloud.
Houston’s personal stake in the company exceeds 20%, putting his estimated net worth somewhere between $2.1 billion and $2.3 billion.
