14 ms·
It is typically class A that gets 10 votes per share. Does the S-1 say otherwise? [edit] yep, you're right... - "Shares of our Class A common stock are entitl
by subroutine 9y ago
It is typically class A that gets 10 votes per share. Does the S-1 say otherwise?
[edit] yep, you're right...
- "Shares of our Class A common stock are entitled to one vote per share."
- "Shares of our Class B common stock are entitled to ten votes per share."
From MarketWatch...
As is the norm for tech companies going public these days, Dropbox has multiple classes of shares with different voting rights. Class A shares have 1 vote, Class B shares have 10 votes, and Class C shares are nonvoting. MarketWatch pointed out last week that Dropbox's structure still gives heavy voting power to the founders and key investors, but it's "slightly" better than the one rolled out by Snap a year ago, in which ordinary investors don't get any voting rights.
- Cofounder and Chief Executive Drew Houston owns 38.3% of the class A shares and 24.3% of the Class B shares, for 24.4% of the total voting power.
- Venture-capital firm Sequoia Capital actually has more power than Houston, with 25% of the Class B shares and 24.8% of total voting power.
- Cofounder Arash Ferdowski has 9.9% total voting power, mainly consisting of Class B shares.
- gumby 9y ago> - Venture-capital firm Sequoia Capital actually has more power than Houston, with 25% of the Class B shares and 24.8% of total voting power. It's likely this will immediately dissolve as these shares are distributed to the investing fund's LPs.
- subroutine 9y agoCondoleezza Rice https://i.imgur.com/Ix9rYDR.png https://i.imgur.com/Ix9rYDR.png Didn't realize Condi was on the Dropbox board of directors.
- sireat 9y agoHer joining Dropbox was discussed 4 years ago: https://news.ycombinator.com/item?id=7565546 https://news.ycombinator.com/item?id=7565546 That was a very realpolitik like hire.