Mozilla’s Decision to Promote Brendan Eich to CEO Inspires Boycotts
Mozilla has announced Brendan Eich will take over as the long-term replacement for interim CEO Jay Sullivan, who is leaving to “pursue new opportunities”. Sullivan originally stepped in for former CEO Gary Kovacs, who left in April 2013.
His promotion to CEO has drawn criticism from gay and human rights activists. This is due to controversy that arose in 2012, when it was revealed that Eich donated $1,000 to a campaign supporting Prop 8 in California, a piece of legislation that denied gay and lesbian couples the right to marry. Prop 8 passed, but was then overturned by a California state court, and this ruling was upheld by the United States Supreme Court.
Many users, now former users, of Mozilla services have begun boycotting their products, including their popular web browser Firefox. Hampton Catlin, who co-founded his company, rarebit, with his husband, wrote an open letter to Mozilla informing them he would no longer develop or test his apps on Firefox.
Box Goes Public with IPO
After over a year of anticipation, sparked by a January 2013 interview with Box’s (formerly Box.net) 29-year-old CEO Aaron Levie that announced eventual plans to go public, on Monday afternoon Box filed the necessary paperwork with the United States Securities and Exchange Commission that will allow them to sell shares to the general public. Box shares will now be available on the New York Stock Exchange under the ticker symbol BOX.
According to their S-1 filing, as of January 31st, 2014, Box has more than 25 million registered users, over 34,000 businesses that pay to use their services and 972 employees. Box noted revenues of $124.2 million in 2013, but also claimed some notable losses of $50.3 million, $112.6 million and $168.6 million in 2011, 2012 and 2013, respectively.
Eight banks, including Morgan Stanley and JP Morgan Chase, worked with Box for this initial offering. This IPO is a dual class offering, meaning shareholders who bought shares after Box went public will receive one vote per share, while company insiders who attained shares before the company went public will receive ten votes per share. Box expects to raise $250 million in its first month on the stock exchange.
By Adam Ritche