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Dropbox (DBX)

Filed: 14 Feb 19, 1:29pm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Rule13d-102)

Information Statement Pursuant to Rules13d-1 and13d-2

Under the Securities Exchange Act of 1934

(Amendment No.     )*

 

 

Dropbox, Inc.

(Name of Issuer)

Class A common stock, par value $0.00001 per share

(Title of Class of Securities)

26210C 10 4

(CUSIP Number)

December 31, 2018

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this schedule is filed:

☐ Rule13d-1(b)

☐ Rule13d-1(c)

☒ Rule13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 2 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SEQUOIA CAPITAL XII, L.P. (“SC XII”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  DELAWARE

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

  64,752,273

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

  64,752,273

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  64,752,273

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  27.8%1

12     

  TYPE OF REPORTING PERSON

 

  PN

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 3 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SEQUOIA CAPITAL XII PRINCIPALS FUND, LLC (“SC XII PF”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  DELAWARE

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

  6,920,539

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

  6,920,539

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  6,920,539

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  4.0%1

12     

  TYPE OF REPORTING PERSON

 

  OO

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 4 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SEQUOIA TECHNOLOGY PARTNERS XII, L.P. (“STP XII”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  DELAWARE

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

  2,422,919

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

  2,422,919

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  2,422,919

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  1.4%1

12     

  TYPE OF REPORTING PERSON

 

  PN

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 5 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SEQUOIA CAPITAL U.S. VENTURE 2010 - SEED FUND, L.P. (“USV 2010 – SEED”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  CAYMAN ISLANDS

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

  17,628

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

  17,628

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  17,628

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  Less than 0.1%1

12     

  TYPE OF REPORTING PERSON

 

  PN

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 6 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SC XII MANAGEMENT, LLC (“SC XII LLC”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  DELAWARE

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

74,095,731 shares of which 64,752,273 shares of Class B common stock are directly held by SC XII, 6,920,539 shares of Class B common stock are directly held by SC XII PF and 2,422,919 shares of Class B common stock are directly held by STP XII. SC XII LLC is the General Partner of each of SC XII and STP XII, and the Managing Member of SC XII PF.

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

74,095,731 shares of which 64,752,273 shares of Class B common stock are directly held by SC XII, 6,920,539 shares of Class B common stock are directly held by SC XII PF and 2,422,919 shares of Class B common stock are directly held by STP XII. SC XII LLC is the General Partner of each of SC XII and STP XII, and the Managing Member of SC XII PF.

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  74,095,731

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  30.6%1

12     

  TYPE OF REPORTING PERSON

 

  OO

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 7 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SC U.S. VENTURE 2010 MANAGEMENT, L.P. (“USV 2010 MGMT”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  CAYMAN ISLANDS

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

17,628 shares, of which 17,628 shares of Class A common stock are directly owned by USV 2010 – SEED. USV 2010 MGMT is the General Partner of USV 2010-SEED.

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

17,628 shares, of which 17,628 shares of Class A common stock are directly owned by USV 2010 – SEED. USV 2010 MGMT is the General Partner of USV 2010-SEED.

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  17,628

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  Less than 0.1%1

12     

  TYPE OF REPORTING PERSON

 

  PN

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 8 of 12 Pages

 

  1      

  NAME OF REPORTING PERSON

 

  SC US (TTGP), LTD. (“SC US TTGP”)

  2     

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3     

  SEC USE ONLY

 

  4     

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  CAYMAN ISLANDS

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

   5    

  SOLE VOTING POWER

 

  0

 6  

  SHARED VOTING POWER

 

17,628 shares, of which 17,628 shares of Class A common stock are directly owned by USV 2010 – SEED. USV 2010 MGMT is the General Partner of USV 2010-SEED. SC US TTGP is the General Partner of USV 2010 MGMT.

 7    

  SOLE DISPOSITIVE POWER

 

  0

 8    

  SHARED DISPOSITIVE POWER

 

17,628 shares, of which 17,628 shares of Class A common stock are directly owned by USV 2010 – SEED. USV 2010 MGMT is the General Partner of USV 2010-SEED. SC US TTGP is the General Partner of USV 2010 MGMT.

  9     

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  17,628

10     

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11     

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  Less than 0.1%1

12     

  TYPE OF REPORTING PERSON

 

  OO

 

 

1 

Based on a total of 167,969,877 shares outstanding following completion of the Issuer’s initial public offering, as reported in the Issuer’s prospectus filed with the Securities and Exchange Commission on February 28, 2018.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 9 of 12 Pages

 

ITEM 1.

 

 (a)

Name of Issuer:

Dropbox, Inc., a Delaware corporation (“Issuer”)

 

 (b)

Address of Issuer’s Principal Executive Offices:

333 Brannan Street

San Francisco, CA 94107

 

ITEM 2.

 

 (a)

Name of Persons Filing:

Sequoia Capital XII, L.P.

Sequoia Capital XII Principals Fund, LLC

Sequoia Technology Partners XII, L.P.

SC XII Management, LLC

Sequoia Capital U.S. Venture 2010 - Seed Fund, L.P.

SC U.S. Venture 2010 Management, L.P.

SC US (TTGP), Ltd.

The General Partner of each of SC XII and STP XII, and the Managing Member of SC XII PF is SC XII LLC.

The General Partner of USV 2010-SEED is USV 2010 MGMT. The General Partner of USV 2010 MGMT is SC US TTGP.

 

 (b)

Address of Principal Business Office or, if none, Residence:

2800 Sand Hill Road, Suite 101

Menlo Park, CA 94025

 

 (c)

Citizenship:

SC XII, SC XII PF, STP XII, SC XII LLC: Delaware

USV 2010 – SEED, USV 2010 MGMT, SC US TTGP: Cayman Islands

 

 (d)

CUSIP Number:

26210C 10 4

 

ITEM 3.

If this statement is filed pursuant to§§240.13d-1(b) or240.13d-2(b) or (c), check whether the person filing is a:

NOT APPLICABLE

 

ITEM 4.

OWNERSHIP

SEE ROWS 5 THROUGH 11 OF COVER PAGES

 

ITEM 5.

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  ☐.


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 10 of 12 Pages

 

ITEM 6.

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

NOT APPLICABLE

 

ITEM 7.

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

NOT APPLICABLE

 

ITEM 8.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

NOT APPLICABLE

 

ITEM 9.

NOTICE OF DISSOLUTION OF GROUP.

NOT APPLICABLE

 

ITEM 10.

CERTIFICATION

NOT APPLICABLE


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 11 of 12 Pages

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: February 14, 2019

 

Sequoia Capital XII, L.P.

Sequoia Technology Partners XII, L.P.

By: SC XII Management, LLC
 General Partner of each
By: 

/s/ Douglas Leone

 Douglas Leone, Managing Member
Sequoia Capital XII Principals Fund, LLC
By: SC XII Management, LLC
 its Managing Member
By: 

/s/ Douglas Leone

 Douglas Leone, Managing Member
SC XII Management, LLC
By: 

/s/ Douglas Leone

 Douglas Leone, Managing Member

 

Sequoia Capital U.S. Venture 2010 Fund, L.P.
Sequoia Capital U.S. Venture 2010 Partners Fund, L.P.
Sequoia Capital U.S. Venture 2010 Partners Fund (Q), L.P.
Sequoia Capital U.S. Venture 2010-Seed Fund, L.P.
By: SC U.S. Venture 2010 Management, L.P.
 General Partner of each
By: SC US (TTGP), Ltd.
 its General Partner
By: 

/s/ Douglas Leone

 Douglas Leone, Managing Director
SC U.S. Venture 2010 Management, L.P.
By: SC US (TTGP), Ltd.
 its General Partner


CUSIP No. 26210C 10 4  SCHEDULE 13G  Page 12 of 12 Pages

 

By: 

/s/ Douglas Leone

 Douglas Leone, Managing Director
SC US (TTGP), Ltd.
By: 

/s/ Douglas Leone

 Douglas Leone, Managing Director