SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULES 13d-1 (b), (c) AND (d)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b)
(Amendment No. __)*
Dropbox, Inc.
(Name of Issuer)
Class A Common Stock, $0.00001 par value
(Title of Class of Securities)
26210C104
(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:
¨ | Rule 13d-1(b) |
¨ | Rule 13d-1(c) |
x | Rule 13d-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).
(Continued on following pages)
Page 1 of 20 Pages
Exhibit Index Contained on Page 18
CUSIP NO. 26210C104 | 13 G | Page 2 of 20 |
1 |
NAME OF REPORTING Accel X L.P. (“A10”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 13,442,903 shares, all of which are directly owned by A10. Accel X Associates L.L.C. (“A10A”), the general partner of A10, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 13,442,903 shares, all of which are directly owned by A10. A10A, the general partner of A10, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 13,442,903 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 8.0% |
12 | TYPE OF REPORTING PERSON* | PN |
CUSIP NO. 26210C104 | 13 G | Page 3 of 20 |
1 |
NAME OF REPORTING Accel X Strategic Partners L.P. (“A10SP”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 1,018,590 shares, all of which are directly owned by A10SP. A10A, the general partner of A10SP, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 1,018,590 shares, all of which are directly owned by A10SP. A10A, the general partner of A10SP, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 1,018,590 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.6% |
12 | TYPE OF REPORTING PERSON* | PN |
CUSIP NO. 26210C104 | 13 G | Page 4 of 20 |
1 |
NAME OF REPORTING PERSONS Accel X Associates L.L.C. (“A10A”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF REPORTING |
5 | SOLE VOTING POWER 14,461,493 shares, of which 13,442,903 are directly owned by A10 and 1,018,590 are directly owned by A10SP. A10A, the general partner of A10 and A10SP, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 14,461,493 shares, of which 13,442,903 are directly owned by A10 and 1,018,590 are directly owned by A10SP. A10A, the general partner of A10 and A10SP, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 14,461,493 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 8.6% |
12 | TYPE OF REPORTING PERSON | OO |
CUSIP NO. 26210C104 | 13 G | Page 5 of 20 |
1 |
NAME OF REPORTING Accel Investors 2008 L.L.C. (“AI08”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 1,390,318 shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 1,390,318 shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 1,390,318 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.8% |
12 | TYPE OF REPORTING PERSON* | OO |
CUSIP NO. 26210C104 | 13 G | Page 6 of 20 |
1 |
NAME OF REPORTING Accel Investors 2010 L.L.C. (“AI10”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF REPORTING |
5 | SOLE VOTING POWER 14,772 shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 14,772 shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 14,772 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.0% |
12 | TYPE OF REPORTING PERSON* | OO |
CUSIP NO. 26210C104 | 13 G | Page 7 of 20 |
1 |
NAME OF REPORTING Accel XI L.P. (“A11”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 98,854 shares, all of which are directly owned by A11. Accel XI Associates L.L.C. (“A11A”), the general partner of A11, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 98,854 shares, all of which are directly owned by A11. A11A, the general partner of A11, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 98,854 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.1% |
12 | TYPE OF REPORTING PERSON* | PN |
CUSIP NO. 26210C104 | 13 G | Page 8 of 20 |
1 |
NAME OF REPORTING Accel XI Strategic Partners L.P. (“A11SP”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 7,425 shares, all of which are directly owned by A11SP. A11A, the general partner of A11SP, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 7,425 shares, all of which are directly owned by A11SP. A11A, the general partner of A11SP, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 7,425 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.0% |
12 | TYPE OF REPORTING PERSON* | PN |
CUSIP NO. 26210C104 | 13 G | Page 9 of 20 |
1 |
NAME OF REPORTING PERSONS Accel XI Associates L.L.C. (“A11A”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 106,279 shares, of which 98,854 are directly owned by A11 and 7,425 are directly owned by A11SP. A11A, the general partner of A11 and A11SP, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 106,279 shares, of which 98,854 are directly owned by A11 and 7,425 are directly owned by A11SP. A11A, the general partner of A11 and A11SP, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 106,279 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.1% |
12 | TYPE OF REPORTING PERSON | OO |
CUSIP NO. 26210C104 | 13 G | Page 10 of 20 |
1 |
NAME OF REPORTING Accel Investors 2013 L.L.C. (“AI13”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF REPORTING |
5 | SOLE VOTING POWER 10,497 shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 10,497 shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 10,497 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.0% |
12 | TYPE OF REPORTING PERSON* | OO |
CUSIP NO. 26210C104 | 13 G | Page 11 of 20 |
1 |
NAME OF REPORTING Accel Leaders Fund L.P. (“ALF”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF REPORTING |
5 | SOLE VOTING POWER 95,440 shares, all of which are owned by ALF. Accel Leaders Fund Associates L.L.C. (“ALFA”), the general partner of ALF, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 95,440 shares, all of which are owned by ALF. ALFA, the general partner of ALF, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 95,440 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.1% |
12 | TYPE OF REPORTING PERSON* | PN |
CUSIP NO. 26210C104 | 13 G | Page 12 of 20 |
1 |
NAME OF REPORTING Accel Leaders Fund Associates L.L.C. (“ALFA”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 95,440 shares, all of which are owned by ALF. ALFA, the general partner of ALF, may be deemed to have sole power to vote these shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 95,440 shares, all of which are owned by ALF. ALFA, the general partner of ALF, may be deemed to have sole power to dispose of these shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 95,440 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.1% |
12 | TYPE OF REPORTING PERSON* | OO |
CUSIP NO. 26210C104 | 13 G | Page 13 of 20 |
1 |
NAME OF REPORTING Accel Leaders Fund Investors 2016 L.L.C. (“ALFI16”) |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) x |
3 | SEC USE ONLY |
4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware |
NUMBER OF |
5 | SOLE VOTING POWER 4,560 shares. |
6 | SHARED VOTING POWER See response to row 5. | |
7 | SOLE DISPOSITIVE POWER 4,560 shares. | |
8 | SHARED DISPOSITIVE POWER See response to row 7. |
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 4,560 |
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | ¨ |
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 0.0% |
12 | TYPE OF REPORTING PERSON* | OO |
CUSIP NO. 26210C104 | 13 G | Page 14 of 20 |
ITEM 1(A). | NAME OF ISSUER Dropbox, Inc. |
ITEM 1(B). | ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES 333 Brannan Street San Francisco, California 94107 |
ITEM 2(A). | NAME OF PERSONS FILING This Schedule 13G is filed by Accel X L.P., a Delaware limited partnership (“A10”), Accel X Strategic Partners L.P., a Delaware limited partnership (“A10SP”), Accel X Associates L.L.C., a Delaware limited liability company (“A10A”), Accel Investors 2008 L.L.C., a Delaware limited liability company (“AI08”), Accel Investors 2010 L.L.C., a Delaware limited liability company (“AI10”), Accel XI L.P., a Delaware limited partnership (“A11”), Accel XI Strategic Partners L.P., a Delaware limited partnership (“A11SP”), Accel XI Associates L.L.C., a Delaware limited liability company (“A11A”), Accel Investors 2013 L.L.C., a Delaware limited liability company (“AI13”), Accel Leaders Fund L.P., a Delaware limited partnership (“ALF”), Accel Leaders Fund Associates L.L.C., a Delaware limited liability company (“ALFA”), and Accel Leaders Fund Investors 2016 L.L.C., a Delaware limited liability company (“ALFI16”). The foregoing entities and individual are collectively referred to as the “Reporting Persons.” |
A10A is the general partner of A10 and A10SP, and may be deemed to have sole power to vote and sole power to dispose of shares of the issuer directly owned by A10 and A10SP. A11A is the general partner of A11 and A11SP, and may be deemed to have sole power to vote and sole power to dispose of shares of the issuer directly owned by A11 and A11SP. ALFA is the general partner of ALF, and may be deemed to have sole power to vote and sole power to dispose of shares of the issuer directly owned by ALF.
ITEM 2(B). | ADDRESS OF PRINCIPAL OFFICE |
The address for each of the Reporting Persons is:
Accel Partners
500 University Avenue
Palo Alto, CA 94301
ITEM 2(C). | CITIZENSHIP |
A10, A10SP, A11, A11SP and ALF are Delaware limited partnerships. A10A, AI08, AI10, A11A, AI13, ALFA and ALFI16 are Delaware limited liability companies.
ITEM 2(D). | TITLE OF CLASS OF SECURITIES Class A Common Stock, $0.00001 par value. |
ITEM 2(E). | CUSIP NUMBER |
26210C104
ITEM 3. | Not Applicable |
CUSIP NO. 26210C104 | 13 G | Page 15 of 20 |
ITEM 4. | OWNERSHIP The following information with respect to the ownership of the Common Stock of the issuer by the persons filing this Statement is provided as of December 31, 2018. |
(a) | Amount beneficially owned: See Row 9 of cover page for each Reporting Person. |
(b) | Percent of Class: See Row 11 of cover page for each Reporting Person. |
(c) | Number of shares as to which such person has: |
(i) | Sole power to vote or to direct the vote: See Row 5 of cover page for each Reporting Person. |
(ii) | Shared power to vote or to direct the vote: |
See Row 6 of cover page for each Reporting Person.
(iii) | Sole power to dispose or to direct the disposition of: |
See Row 7 of cover page for each Reporting Person.
(iv) | Shared power to dispose or to direct the disposition of: See Row 8 of cover page for each Reporting Person. |
ITEM 5. | OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not Applicable. |
ITEM 6. | OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Under certain circumstances set forth in the limited partnership agreements of A10, A10SP, A11, A11SP and ALF, and the limited liability company agreements of A10A, AI08, AI10, A11A, AI13, ALFA and ALFI16, the general partner and limited partners or members, as the case may be, of each of such entities may be deemed to have the right to receive dividends from, or the proceeds from, the sale of shares of the issuer owned by each such entity of which they are a partner or member, as the case may be. |
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. |
CUSIP NO. 26210C104 | 13 G | Page 16 of 20 |
ITEM 9. | NOTICE OF DISSOLUTION OF GROUP. Not Applicable. |
ITEM 10. | CERTIFICATION. Not Applicable. |
CUSIP NO. 26210C104 | 13 G | Page 17 of 20 |
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: February 13, 2019
Entities: | Accel X L.P.* | |
Accel X Strategic Partners L.P.* | ||
Accel X Associates L.L.C.* | ||
Accel Investors 2008 L.L.C.* | ||
Accel Investors 2010 L.L.C.* | ||
Accel XI L.P.* | ||
Accel XI Strategic Partners L.P.* | ||
Accel XI Associates L.L.C.* | ||
Accel Investors 2013 L.L.C.* | ||
Accel Leaders Fund L.P.* | ||
Accel Leaders Fund Associates L.L.C.* | ||
Accel Leaders Fund Investors 2016 L.L.C.* |
By: | /s/ Tracy L. Sedlock | |
Tracy L. Sedlock, Attorney-in-fact for | ||
the above-listed entities |
* Signed pursuant to a Power of Attorney already on file with the appropriate agencies.
CUSIP NO. 26210C104 | 13 G | Page 18 of 20 |
EXHIBIT INDEX
Found on Sequentially | ||
Exhibit | Numbered Page | |
Exhibit A: Agreement of Joint Filing | 19 | |
Exhibit B: Power of Attorney | 20 |
CUSIP NO. 26210C104 | 13 G | Page 19 of 20 |
EXHIBIT A
Agreement of Joint Filing
The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Common Stock of Dropbox, Inc. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G.
Date: February 13, 2019
Entities: | Accel X L.P.* | |
Accel X Strategic Partners L.P.* | ||
Accel X Associates L.L.C.* | ||
Accel Investors 2008 L.L.C.* | ||
Accel Investors 2010 L.L.C.* | ||
Accel XI L.P.* | ||
Accel XI Strategic Partners L.P.* | ||
Accel XI Associates L.L.C.* | ||
Accel Investors 2013 L.L.C.* | ||
Accel Leaders Fund L.P.* | ||
Accel Leaders Fund Associates L.L.C.* | ||
Accel Leaders Fund Investors 2016 L.L.C.* |
By: | /s/ Tracy L. Sedlock | |
Tracy L. Sedlock, Attorney-in-fact for | ||
the above-listed entities |
* Signed pursuant to a Power of Attorney already on file with the appropriate agencies.
CUSIP NO. 26210C104 | 13 G | Page 20 of 20 |
EXHIBIT B
POWER OF ATTORNEY
Tracy L. Sedlock has signed this Schedule 13G as Attorney-In-Fact. Note that copies of the applicable Power of Attorney are already on file with the appropriate agencies.