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So apparently Square and Box have both raised about the same amount of money, roughly $550-600MM [1][2], but somehow Jack Dorsey still holds 25% and Aaron Levie

So apparently Square and Box have both raised about the same amount of money, roughly $550-600MM [1][2], but somehow Jack Dorsey still holds 25% and Aaron Levie wound up with ~ 4% - Does anyone else find that surprising? https://www.crunchbase.com/organization/box#/entity https://www.crunchbase.com/organization/box#/entity https://www.crunchbase.com/organization/square#/entity https://www.crunchbase.com/organization/square#/entity

austenallred 11y ago
No. Jack was a co-founder of Twitter, so it was a completely different game for him. Levie was a nobody with an idea, and had to raise at almost egregious terms at times to stay alive.
burger_moon 11y ago
Well square started after Twitter was successful right? So Jack probably had enough personal money to finance a lot of Square. Was Aaaron Levie rich before starting box? I'm on mobile so I don't know the ans Ed to that, but it sounds logical at the moment to me.
prostoalex 11y ago
Box was also forced to print shares for Coatue and other late-stage investors who wanted a guaranteed liquidation preference in exchange for awarding the company with a unicorn label https://pando.com/2015/01/09/ipo-of-last-resort-box-has-no-choice-but-to-go-pubic-despite-its-ugly-numbers/ https://pando.com/2015/01/09/ipo-of-last-resort-box-has-no-c...