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Danny Rimer, Early Dropbox Backer and 'Board Observer,' Leaves Board

It may be a sign of internal turmoil in the leadership.

Index Ventures

Dropbox’s board is now a little emptier. Index Ventures’ Danny Rimer, who led the firm’s 2011 $250 million Series B round in the cloud storage company, has left the board, according to sources. An anonymous source told Re/code that Rimer was an observer so he never had board voting rights, but he’d attend the meetings to keep an eye on how the company was doing.

The list of board members with voting power is small: Founders Drew Houston and Arash Ferdowski, Sequoia investor Bryan Schreier, the former Priceline CFO Bob Mylod and the wild card — former Secretary of State Condoleezza Rice.

A Dropbox spokesperson said, “Danny led our Series B and he continues to be a close adviser to the company.” They declined to comment on what prompted Rimer’s departure. Index Ventures did not respond to request for comment.

It may be a sign of internal turmoil in the leadership as the company doubles down on its push into providing cloud storage for businesses. It has faced challenges with its product vision in recent years while a growing number of competitors started offering similar consumer services at cheaper rates.

Index and Dropbox share close ties. In addition to the venture firm’s investment in Dropbox, one of Dropbox’s own product chiefs, Ilya Fushman, left the cloud storage company to become a partner at Index in May.

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