Dropbox Founder Posts $1.2 Million Online Banking Screenshot

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Sam Biddle

06/24/13 11:31AM

Filed to: money

Let's disrupt modesty: Drew Houston, who created the widely popular cloud-syncing service Dropbox, just shared a little gem from his past. Do you remember the day you became a tech millionaire? He sure does—and here's the unimpeachable proof!

The screenshot—uploaded to, of course, RapGenius—shows Dropbox's company account the moment it received a $1.2 million funding round in 2008:

Honestly, I don't think I've ever been "ready." I remember the day our first investors said yes and asked us where to send the money. For a 24 year old, this is Christmas — and opening your present is hitting refresh over and over on bankofamerica.com and watching your company's checking account go from 60 dollars to 1.2 million dollars. At first I was ecstatic — that number has two commas in it! I took a screenshot — but then I was sick to my stomach. Someday these guys are going to want this back. What the hell have I gotten myself into?

You'd gotten yourself into a massively successful business, Drew! [via FastCo]

Update: RapGenius co-founder Mahbod Moghadam provided Valleywag with the following statement. It's best read as a sort of poem:

he did it!
he is such a boss
that's like something I would do
he is such a rustic thug pimp
he threw the bank shit up on RG
clearly a disruptive ass mufucka

dogmaticequation Sam Biddle 06/24/13 05:25PM

These screen shots may be the ones used for / are being used for an incident involving the "borrowing of" and subsequent "return of" a large amount of cash by a (now) terminated employee.

Sam Biddle dogmaticequation 06/24/13 05:34PM

Huh?

dogmaticequation Sam Biddle 06/24/13 05:39PM

I would look into abrupt staffing changes around 2009 /2010... then follow the money.

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aismo Sam Biddle 06/24/13 05:08PM

WHOA WHOA WHOA. PUMP THE BRAKES. I'm sorry but fuck this article. Really? 2008? Did you read the quote you gave? It sounds ultra-modest. "It was really cool we had all this money! And then came my gross and painful realization of its responsibilities!" Except said normally.

He shared that feeling every single one of us would have. All. Of. Us. I'm fine with the article but don't make it sound like he's off douching around (he may be but in this case he's not, I have no idea) when he's sharing one of those happy and terrifying moments. Kinda like when people have babies.

Sam Biddle aismo 06/24/13 05:12PM

The sentiment is sage and powerful and I think it's great that he said it (particularly in a commencement speech, where it appeared originally) but that screenshot is questionable.

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AfifGhannoum Sam Biddle 06/24/13 02:37PM

"Do you remember the day you became a tech millionaire? He sure does." That's just completely inaccurate. That's the day his company got funding from investors, not the day he became a millionaire. (Obviously different if the money was going to personally buy a piece of his equity stake that he then pulled off the table a la Groupon). When my company received a multi-million dollar influx of investment, by no means did I become a millionaire, that cash went straight into running the business. The problem is, everyone wants to meld the founders of hot startups into a single being with the founder's business. They're not one and the same, Drop Box's money is not his money. He's the steward of that money for the business.

Sam Biddle AfifGhannoum 06/24/13 02:43PM

Well yes, of course, but it's not irrelevant that he's (personally) worth like half a billion dollars now.

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AfifGhannoum Sam Biddle 06/24/13 02:47PM

But that's not what you said. Of course he's a big deal now, but you specifically said that's the moment he became a millionaire. And unless he sold any interest, he's only worth that on paper. Same with my co., on paper I'm worth millions, but that doesn't mean anything until somebody pays you for it. My point is, getting invested in, is not the same as getting paid personally. Those chips are all still on the table.

Nine Inches of Pure Good Luck Sam Biddle 06/24/13 01:46PM

Can we see the screenshot from when it was actually revenue?

Sam Biddle Nine Inches of Pure Good Luck 06/24/13 01:54PM

I'd love to