Seven months down the line, the company was at a million users, and the number kept rising. Dropbox went from 100,000 users at launch to double that 10 days later. The result was exponential growth, to a certain point. According to the Pitchbook-NVCA Venture Monitor Report, Sequoia realized about $2 billion from its initial investment when Dropbox went public in March 2018. I'll at least not have to carry around a thumb drive anymore."Įventually top VC fund Sequoia led Dropbox's $1.25 million seed round. Houston would respond: "We probably will get crushed by the big guys. Investors would tell Houston that Dropbox was "probably going to get crushed by the big guys." After being accepted to the famous Silicon Valley accelerator Y Combinator, Houston and Ferdowsi faced skeptical investors and competition from the goliaths of the tech industry, like Apple, Microsoft, and Google. Twelve years ago, success wasn't guaranteed. "I thought I could outrun the smaller guys." "I had some insight into why this looked easy but it was actually hard to do, and kind of just jumped in," Houston said. Houston knew he could outpace the smaller competitors in the field because he had firsthand knowledge of where their offerings fell short.
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