- On Friday, Dropbox filed its S-1, making it the first among Silicon Valley incubator Y Combinator's companies to ever file for an IPO.
- Y Combinator accepted Dropbox founder Drew Houston's application for Dropbox in 2007. It was the second time that Houston had applied to the program.
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Dropbox will be the first-ever IPO out of Silicon Valley’s most important startup factory
While Y Combinator has overseen the development of several successful startups, Dropbox is its first to file for an IPO.
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On Friday, file hosting service Dropbox filed its S-1, making it the first Y Combinator company to ever file for an IPO.
While the Silicon Valley-based incubator has overseen the development of several successful companies like, Airbnb, Docker, and Instacart, Dropbox will be the first within the Y Combinator program to go public.
Led by Sam Altman and founded by Paul Graham, Robert Morris, Jessica Livingston, and Trevor Blackwell in 2005, Y Combinator quickly rose to prominence as a program for young startups to gain a network of investors and advisors, in addition to seed funding, in exchange for the incubator taking an equity stake. In December, Y Combinator announced plans for a development program for later-stage startups.
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Dropbox founder Drew Houston applied twice to Y Combinator before the selective incubator accepted his application in the summer of 2007. While at Y Combinator, the startup attracted interest from tech elites like who famously said the startup's core online storage offering was "a feature, not a product" and that Apple would destroy it.
The company's last valuation was at $10 billion in 2014. The initial offering price has yet to announced. The stock will be listed on the NASDAQ under the stock ticker DBX.
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