FORTUNE -- Dennis Woodside ran Motorola Mobility for Google, but apparently he won't be doing the same for Lenovo.
Dropbox has raised $507 million in venture capital funding. Its most recent deal, a
$250 $350 million Series C round that valued the company at $10 billion, quelled speculation that the San Francisco-based company would file for an IPO in the near term.
Dropbox competes with Box, another online storage startup. Last week, Quartz reported Box had confidentially filed to raise $500 million in an IPO. Box's latest round of outside funding valued the company at $1 billion.
RELATED: Dropbox revamps Dropbox for Business
In the past, Dropbox has focused on offering storage space to consumers but has moved into Box's core market, the business-to-business world. Woodside will lead Dropbox's push into that arena, according to the Wall Street Journal.
Traditionally, the young engineer founders of successful startups are asked to step aside for a more seasoned "adult" executive. But the changes in ownership structures of startups, and the fact that they're waiting longer to go public, has seen more founders retaining their CEO role. So the "adults" are now becoming COOs, like Woodside and Facebook's Sheryl Sandberg.
A Dropbox representative did not respond to a request for comment by press time.
Update: Dropbox has confirmed the hire. Houston issued the following statement:
We've long admired Dennis's leadership at Google and Motorola where he ran multi-billion dollar businesses and built amazing organizations around the world. We're so happy to welcome Dennis to our team -- I can't imagine a better person to help us bring Dropbox to global scale.
The Mountain View company announced its fourth-quarter earnings amid a flurry of M&A activity
FORTUNE -- Google reported strong fourth-quarter earnings Thursday: The company earned $16.86 billion in revenue for the fourth quarter, a 17% jump over the same period in 2012. Google's GAAP earnings per share was $9.90, up over $8.62 in the year prior. The company's stock traded up more than 4% after hours.
But analysts on the earnings call were MOREErin Griffith - Jan 30, 2014 7:39 PM ET
Google CEO Larry Page admitted that it didn't make sense for Google to remain in the handset business.
FORTUNE -- After trying and failing to compete effectively in the handset business, Google is selling its Motorola business unit to Lenovo, the world's largest and fastest-growing PC maker, for $2.91 billion in cash and stock.
MORE: Can Lenovo do it?
After the deal, Google (GOOG) will retain the vast majority of patents it acquired with MOREMiguel Helft, senior writer - Jan 29, 2014 5:46 PM ET
Google's phone-making division is planning to pursue emerging and prepaid markets.
FORTUNE -- Executives from Google and its Motorola Mobility handset maker unveiled a new premium phone, Moto X, in New York on Thursday. But Dennis Woodside, Motorola's CEO, and Google Chairman Eric Schmidt say they are eager to deliver lower-priced smartphones to what Woodside calls the "super value segment."
"If I'm a middle-class mother in Brazil I might not be able MOREStephanie N. Mehta, Deputy Managing Editor - Aug 1, 2013 3:46 PM ET
Google CEO Larry Page envisions a future in which computers plan your vacations, drive your cars, and anticipate your whims. Audacious? Maybe. But Page's dreams have a way of coming true.
Note: On Jan 3, as Fortune published this article, the Federal Trade Commission ended its investigation of Google's search practices saying it found no evidence that the company manipulated search results in violation of antitrust laws. The European Commission and MOREMiguel Helft, senior writer - Jan 3, 2013 5:00 AM ET
How Facebook and Zynga's businesses couldn't be more different; Motorola faces big-time staff cuts.
Groupon feels the heat [THE WALL STREET JOURNAL]
A Groupon attorney last month sent Mr. Silagadze a letter saying Top Hat was improperly recruiting Groupon employees. Top Hat's 25-person sales staff includes eight former Groupon employees. Groupon's turnover is "getting even worse when their best people are starting to leave," Mr. Silagadze said, adding that he plans to continue hiring MOREJP Mangalindan, Writer - Aug 13, 2012 5:00 AM ET
Fortune's curated selection of tech stories from the last 24 hours. Sign up to get the round-up delivered to you each and every day.
"We are working as hard as ever this year to deliver an incredible year and some products that will blow your mind." -- CEO Tim Cook at Apple's annual shareholder meeting
* Apple (AAPL) has acquired the app search and discovery engine Chomp. The Chomp team and technology will MOREJP Mangalindan, Writer - Feb 24, 2012 3:30 AM ET
Sony's tablet could be the next to stumble, says another
Wall Street's best and brightest are expressing varying degrees of shock at the news Thursday that Research in Motion (RIMM), which delivered 500,000 BlackBerry PlayBook tablets in the quarter that ended in May, shipped a dismal 200,000 in the August quarter -- suggesting that most of those first half-million units are still sitting, unsold, on store shelves.
"We believe the PlayBook is MOREPhilip Elmer-DeWitt - Sep 16, 2011 10:31 AM ET
Fortune's curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day.
"There are a lot of sweet patents in that portfolio." -- Dean Becker, ICAP Patent Brokerage CEO, on Motorola Mobility's (MMI) 17,000 patents. (Bloomberg)
* Arik Hesseldahl over at All Things D does the math and guestimates that HP (HPQ) could be losing anywhere between $140 million and $300 million MOREJP Mangalindan, Writer - Aug 23, 2011 3:30 AM ET
The search giant's $12.5 billion acquisition bid is a bold move that could reshape the mobile business. It's also fraught with potential pitfalls.
By Alex Konrad, contributor
FORTUNE -- Sometimes, plan B is pretty good. When Google missed out on buying Nortel Networks' patent hoard earlier this summer, few could have predicted it would make a stunning $12.5 billion cash bid for Motorola Mobility.
The move is sure to change Google's (GOOG) business, MOREAug 18, 2011 10:33 AM ET
|Chrysler Group orders donated Vipers destroyed|
|Albertsons to merge with Safeway|
|Everything must go: There's a flood of store closings|
|The real reasons to export U.S. gas|
|Bitcoin matters. Ignore the media circus.|