Box wants to raise $ 250 million on the stock market

by bold-lichterman

Created in 2005 by Aaron Levie and Dylan Smith, Box has become in nearly 10 years one of the benchmark players in cloud file management. The company has totaled $ 414 million in funding since its inception, with the latest round valuing it at over $ 2 billion.

It has more than 34,000 corporate clients, 25 million users, and 1.75 million paying subscribers. Box thus recorded sales of $ 124.2 million in 2013 (+ 50% vs. 2012). However, to ensure its development, Box recorded a loss of $ 168.8 million over the same fiscal year (+ 50% vs. 2012). In this regard, Aaron Levie indicates that he has accumulated significant losses since the creation of the company and does not expect to be profitable in the short term. The company has nearly 1,000 employees.

For his IPO, Aaron Levie chose the NYSE and aims to raise a minimum of $ 250 million.

Box is now in competition with many cloud players like Microsoft, Google, Dropbox and in France OVH.