The percentages and valuations of companies can vary significantly based on numerous factors, including the industry, market conditions, business model, growth trajectory, and overall success. Below are some general hypothetical examples of how the ownership percentages and valuations of companies might change over the course of 20 years of operations:

Year 1 (Startup): - Founder(s) hold 100% ownership of the company. - Valuation: The company may have a pre-money valuation of $1 million based on the initial investment or self-funding.

Year 5: - The company has shown promising growth and attracted seed funding from angel investors and venture capitalists. - Founder(s) might own around 60% to 80% of the company. - Angel investors and VCs collectively hold around 20% to 30% of the company. - Valuation: The company's valuation might be around $5 million to $10 million.

Year 10: - The company has achieved significant milestones, expanded its operations, and gained a strong market presence. - Founder(s) ownership might be diluted to around 40% to 60% due to multiple funding rounds. - Early-stage investors' ownership might have been diluted to around 15% to 25%. - Late-stage investors (Series C, D, etc.) could collectively hold around 20% to 30%. - Valuation: The company's valuation might be in the range of $50 million to $100 million.

Year 15: - The company is now well-established and generating substantial revenue and profits. - Founder(s) might own around 20% to 40% of the company. - Early-stage investors' ownership might be around 10% to 20%. - Late-stage investors' ownership could be around 15% to 25%. - Valuation: The company's valuation might be in the range of $200 million to $500 million.

Year 20: - The company is a mature and successful player in its industry, possibly considering an exit strategy. - Founder(s) might still own around 10% to 30% of the company. - Early-stage investors' ownership might be around 5% to 15%. - Late-stage investors' ownership could be around 10% to 20%. - Valuation: The company's valuation might be in the range of $500 million to several billion dollars.

Please note that these examples are generalized and do not represent any specific companies. The ownership percentages and valuations can vary widely based on the company's performance, fundraising efforts, market conditions, and other factors. Additionally, some startups may choose to remain private for an extended period, while others may go public or be acquired at different stages of their development.