Dropbox Is Now Worth $12 Billion

Dropbox went public on Friday, and is now worth $20 billion. In 2007, Houston was just trying to get his startup off the ground as a solo founder, and applied to the presitigous Y Combinator program for his first funding. On the application, he says he would have sold Dropbox for $1 million after taxes in the first six months, if someone had made the offer. Now, his stake in Dropbox is almost certainly worth billions. Read Houston's full application below.