Those wondering what former iOS chief Scott Forstall has been up to since leaving Apple in 2013 may be interested to know that he has been helping out Snapchat. According to leaked emails from Snapchat board member Michael Lynton, Forstall has been a paid advisor for the messaging startup since January 2014.
In fact, he’s very well paid. Lynton’s email indicates that Snapchat set aside .11% of fully-diluted stock for the ex-Apple exec, with options vesting over 24 months. And given that the company was recently valued at $15 billion, that would make Forstall’s stake worth somewhere in the neighborhood of $16.5 million.
Snapchat confirmed the relationship with TechCrunch, offering up the boilerplate response of “We have a number of advisors, but we don’t comment on the specifics of their relationship with the company.” It’s likely true—tech firms often bring aboard talent in an advisor role, as a way to gain insight without obligation.
Scott Forstall joined Steve Jobs’ NeXT in 1992, and moved to Apple after their acquisition in 1997. He played a large part in the success of the iPhone and iPad, and held the title of SVP of iOS before being very publicly fired by Tim Cook in 2012. Cook cited a need for “better collaboration,” as reason for his ousting.
Source: TechCrunch