Former QUALCOMM, Inc. (NASDAQ:QCOM) CEO Paul Jacobs has joined the board of Dropbox.
Mr. Jacob’s shift to Dropbox is vital for the storage firm because it comes at an ideal time following the company’s recent milestone of reaching 500 million users. Jacob will thus play a significant role in the company to advance its enterprise business.
Dropbox CEO Drew Houston stated that his company requires people with more experience to help it compete with big firms. Amazon.com, Inc. (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL) are the biggest rivals that Dropbox has to compete with.
Jacob’s input in his new position
Mr. Houston believes that Jacob’s experience as the former CEO and executive chairman of Qualcomm will be of great help in competing against rival firms. He pointed out that Jacobs helped Qualcomm to set up many technologies that made significant contributions to the mobile industry. Houston wrote in a blog that Paul managed to challenge major firms during his time as CEO.
Dropbox, therefore, views the former Qualcomm executive as a vital gain on their part because he is well vast experienced in the mobile sector and he has proper knowledge of the business cycles. The two discussed the possibility of a position for Jacobs at the Davos conference in Europe. Jacobs left his post as Qualcomm CEO in 2014 after holding down the leadership position for almost ten years. He stated that he was impressed by Dropbox’s culture which closely resembles that of his former company. He also commended the engineers at the online storage company for their good work.
During a Re/code interview, Jacobs stated that he has a lot of experience in growing a start-up that was led by a co-founder and how to steer it, especially in a tight market. Houston also mentioned that the firm is currently not considering an IPO.