Today, Mike Arrington wrote that Dropbox, a four-year-old file sharing and storage company, raised a massive round at a $4 billion valuation.(If you’re wondering what business model justifies such a high valuation, we wrote about it here.)
Dropbox would not comment on the round, merely stating: “We do not comment on rumours or speculation.”
But, we have it on good authority that, if the round closed, it made Dropbox’s 28-year-old founder, Drew Houston, a paper billionaire.
Houston graduated from MIT and founded Dropbox in 2007. He secured seed funding from a startup accelerator, Y Combinator, and launched Dropbox on stage at TechCrunch Disrupt in 2008.
Fun fact: Houston scored a 1600 on the SATs.
Houston dabbled in a few other startups before striking gold with Dropbox. He formerly worked on Hubspot, Bit9 and Accolade.
This won’t be the last young billionaire story you hear. There are at least 12 other startups with billion-dollar valuations right now, and their founders could be next.