https://www.recode.net/2018/2/23/17046614/sequoia-dropbox-drew-houston-s1-ownership

Dropbox’s CEO and its first big institutional investor have amassed an unusually large percentage of the company.

Dropbox, which unveiled its IPO documents on Friday, raised money relatively slowly on its way to its last valuation of $10 billion. What that means is that Drew Houston, one of the company’s founders, and Sequoia Capital, which cut Houston his first venture capital check, now stand to make a disproportionately largely amount of money off their file-sharing and cloud-storage project.