Trending Now - Dropbox Founder Drew Houston Transitions to Executive Chairman Role
WHO:
Techmeme - Ashraf Alkarmi, newly appointed co-CEO of Dropbox, was previously the product chief and has been with the company since 2024.
Fast Company - Drew Houston, founder and CEO of Dropbox
Fast Company - Ashraf Alkarmi, newly appointed co-CEO of Dropbox
Techmeme - Drew Houston, founder of Dropbox
WHAT:
Fast Company - Houston's transition to executive chairman will follow a period of co-leadership with Alkarmi, who is now co-CEO.
Fast Company - In the first quarter of 2026, Dropbox reported total revenue of $629.5 million, which is up just 0.8% from the previous year.
Fast Company - Drew Houston announced he will be stepping down from his role as CEO of Dropbox.
Fast Company - Houston has been with Dropbox since its founding in 2007.
Fast Company - Dropbox has 700 million global registered users, with over 18 million being paid users.
Fast Company - For the most recent quarter ending March 31, Dropbox reported $629.5 million in total revenue.
Fast Company - Dropbox stock fell about 2.3% to $26.80 following the announcement of Houston's departure.
Fast Company - Since the beginning of 2026, Dropbox shares have declined about 2.95%.
Fast Company - Over the past 12 months, Dropbox shares have decreased by about 5.6%.
Fast Company - Dropbox was the first company from the Y Combinator startup accelerator to go public in 2018, valued at around $12 billion.
Fast Company - The current valuation of Dropbox is around $6.2 billion.
WHERE:
Fast Company - Dropbox is a cloud storage provider.
WHEN:
Fast Company - Houston's departure from the CEO role will occur later, but no specific date was provided.
WHY:
Fast Company - Houston expressed interest in the entrepreneurial AI space, stating, "there’s never been a more exciting period to be building things."
Fast Company - Houston did not specify why he was changing his role but alluded to an interest in artificial intelligence, stating, "there’s never been a more exciting period to be building things."
HOW:
Fast Company - Houston will remain at Dropbox as executive chairman after the transition period with Alkarmi.
Fast Company - Houston will transition to the role of executive chairman after a period of co-leadership with Alkarmi, who was previously the product chief.
(UPDATED May 26, 2026 23:23 UTC)
Dropbox has appointed Ashraf Alkarmi as its new co-CEO, a role he takes on after serving as the product chief since joining the company in 2024. Following a period of co-leadership, current CEO Houston will transition to executive chairman, expressing a keen interest in the entrepreneurial AI space and emphasizing the excitement of building during this time. In the first quarter of 2026, Dropbox reported total revenue of $629.5 million, reflecting a modest increase of 0.8% from the previous year.
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(UPDATED May 26, 2026 19:42 UTC)
Drew Houston has announced he will be stepping down from his role as CEO of Dropbox, a cloud storage provider he co-founded in 2007. Following his departure, Houston will transition to the role of executive chairman while Ashraf Alkarmi, who was previously the product chief, takes on the position of co-CEO. Houston hinted at his interest in artificial intelligence, stating that "there’s never been a more exciting period to be building things," although he did not specify a date for his change in role.