Cloud Computing: Box could delay IPO until June

May 2, 2014 Off By David
Object Storage

Grazed from CloudPro. Author: Rene Millman.

Cloud storage firm Box may delay its IPO to wait for improving market conditions, according to a report by the Wall Street Journal. The IPO may now take place in June, Bloomberg reports, citing “people familiar with the matter. Box filed its IPO documents on 24 March, making it eligible to list its shares as early as April.

The firm was looking to raise $250 million, despite widening losses. Market valuations put Box’s worth at around $2 billion. However, worsening market conditions have postponed a promotional tour the firm was planning to make around prospective investors. A spokeswoman said in a statement that Box’s IPO had no set date…

“Since filing, we’ve planned on going when it makes the most sense for the market. That plan hasn’t changed.” Cloud computing tech stocks have seen a decline over the past few months. An index of 37 cloud computing firms tracked by venture capital company Bessemer Venture Partners has decreased in value by $58 billion in the last eight weeks…

Read more from the source @ http://www.cloudpro.co.uk/iaas/cloud-storage/4058/box-could-delay-ipo-until-june

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