Up 47% at the moment. https://finance.yahoo.com/quote/dbx
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Congrats Dropbox
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Re: Congrats Dropbox
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Re: Congrats Dropbox
#14I like Dropbox and YCombinator, but this line near the end was odd: "Today is a big milestone for YC. When we launched 13 years ago, we never imagined that a company that we’d funded would one day go public." Really? What were they doing funding it, then? I hadn't realized that wasn't the original idea at YCombinator.
YC was started as a way for PG and Jessica to learn about angel investing. They originally gave teams like $20k for the summer and positioned it as alternative to a summer internship. They told students that if they decided at the end of the summer to quit the startup and go back to school, that was ok. They expected the cost of this education on angel investing would be some failed investments in startups. Most people back then apparently thought they were crazy for writing checks to undergrads and having them start companies -- this was in 2005, before zuckerberg, right after the dot com crash, when the world was a different place. I'm sure the YC founders thought in the back of their minds that their startups would succeed, but they probably were hesitant to say that out loud.
It's easy to take the YC model for granted today, but back then what they were doing was sort of crazy. Their insight was that these young founders were diamonds in the rough, and their brilliance was fighting for these founders when no one else would
http://old.ycombinator.com/start.html
http://paulgraham.com/summerfounder.html
http://old.ycombinator.com/old/sfp.html
Edit: readability, more links
Re: Congrats Dropbox
#15Pictures of the actual checks :) https://twitter.com/sama/status/977215073386053632
Re: Congrats Dropbox
#16Up 47% at the moment. https://finance.yahoo.com/quote/dbx
looks like they mispriced. Most of those gains are accruing to underwriters and speculators rather than the company. Same thing happened to eToys.
There's going to be a lot of bankers and their clients celebrating tonight. With 36M shares outstanding, dropbox left around 360M on the table for the bankers.
Re: Congrats Dropbox
#17Let's celebrate AFTER we see what Dropbox does with the IPO proceeds. Here's a to-do list:
1. Resurrect drop.io product killed by FB.
2. Acquire HelloSign or build it internally.
3. Acquire and fix Scribd, and restore document publishing capabilities; or Zoho.
4. Acquire Zapier or one of their competitors (eg. Integromat).
5. Acquire Canva, ASCIIflow and PandaDocs.
Thus leaving Box.net in your dust and await acquisition by Salesforce.
Re: Congrats Dropbox
#18I like Dropbox and YCombinator, but this line near the end was odd: "Today is a big milestone for YC. When we launched 13 years ago, we never imagined that a company that we’d funded would one day go public." Really? What were they doing funding it, then? I hadn't realized that wasn't the original idea at YCombinator.
I could be wrong, but wouldn't VCs prefer some type of large acquisition, a la WhatsApp, as opposed to an IPO?
Why would there be a difference? They're both liquidity events.
Re: Congrats Dropbox
#19I like Dropbox and YCombinator, but this line near the end was odd: "Today is a big milestone for YC. When we launched 13 years ago, we never imagined that a company that we’d funded would one day go public." Really? What were they doing funding it, then? I hadn't realized that wasn't the original idea at YCombinator.
We thought they'd be successful, but it's very rare for a company to be this successful.
Re: Congrats Dropbox
#20This is nice from a business-perspective.
But, stepping back ... I'm sure that a lot of the folks here would agree that something as basic as file-sync should be a standard part of any OS, and follow a non-proprietary protocol.
So whereas they have turned something that should have been a commodity into a profitable business, I'm not sure what we have achieved here.