593ec35bc4adee1c008b5394 640 480 - This Is The Story Of How Dropbox CEO Drew Houston Made Forbes 400

This Is The Story Of How Dropbox CEO Drew Houston Made Forbes 400

So as we all know, file-sharing and cloud storage service Dropbox just recently went public which also made the company Y combinator’s first startup to file an IPO.

Dropbox CEO Drew Houston was named in the Forbes 400 list of billionaires in the United States in October for the first time. The company which started back in 2007 by a two-person team has now grown to be a service used by over 500 million people with thousands of employees.

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Dropbox wasn’t Drew’s first startup, during his college period he worked on this SAT prep company which he tried getting into a startup accelerator but was rejected.

The idea of Dropbox came when Drew was in a bus going from Boston to New York then he realized he forgot his thumb drive which contained important files at home.

Drew said “I was so frustrated…because this kept happening, and I’m like, my God, I never want to have this problem again. I opened up the editor and started writing some codes. I had no idea what it would become.”

Drew Houston applied again for Y combinator with the idea of Dropbox, but he ran into another problem. Y combinator cofounder paul

Graham told Drew that for him to get into the accelerator, he had to have a cofounder.

With just less than two weeks to find a cofounder, Drew struggled and finally found one. Arash Ferdowsi, a student at MIT after watching a little demo video put together by Drew for Dropbox, he agreed to be the cofounder.

With Arash Ferdowsi as the new cofounder, Dropbox was accepted into the Y combinator program where they got to meet some top investors.

They got their first funding from Sequoia Capital and launched publicly in 2008. The company saw a huge growth that even attracted the attention of Steve Jobs.

Steve Jobs asked if Drew was willing to sell the company to Apple but Drew turned down the offer. Now Dropbox has started developing features for businesses and they now provide software services to over 200,000 businesses.

Today Dropbox is considered one of the most successful startup out of the Y combinator’s program and also the first startup from the Y combinator to file an IPO.

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