Cloud Computing: Box Inc. Finally Files For IPO – Values itself at $1.6 billion

January 18, 2015 Off By David

Grazed from EvergreenInvestor.  Author: Viki Mickel.

Box Inc. the cloud service provider is expected to go public this year and has filed for an initial public offering. It is imperative to state that the company had filed for an initial public offering for the first time last March. The company is seeking a valuation of $1.6 billion according to the documents filed by the company with the exchange and the regulatory authorities. The company had delayed the initial public offering the last time around because of the unfavourable market conditions for technology stocks last March. The company consequently raised $150 million through private funding last July.

Box Inc. valuation this time around is 33 percent less than what it had initially filed for last time around. The company plans to raise $163 million through the initial public offering by issuing 12.5 million shares in the price range of $11 – $13 per share according to the regulatory filing. The company currently has 32 million registered users and the largest competitors for the company are Microsoft, Dropbox and Citrix…


The company plans on using the proceeds for marketing and entering new markets along with product development which would provide new technologies to existing and new users…

Read more from the source @ http://www.evergreeninvestor.com/box-inc-finally-files-for-ipo-values-itself-at-1-6-billion/16297/