Online storage space firm Box has actually secretly filed for an IPO, baseding on Quartz and the Wall surface Road Journal. Box last year raised $$ ONE HUNDRED million in venture financing and is valued at approximately $$ 2 billion. An IPO could possibly bring an extra $$ 500 million to the business throughout a time when competitors in between rival Dropbox is magnifying.
Box is apparently capitalizing on an arrangement in the JOBS Act, which allows business with an annual revenue of less than $$ 1 billion to file its IPO syllabus confidentially with the Securities and Exchange Payment. A Box representative declined to discuss the probability of an IPO.
“We do not have anything to share right now. We’re concentrated on continuing to construct our business and increase our consumer relationships internationally,” a Box representative mentioned to Quartz in an emailed declaration.
Box recently overhauled its iOS app [App Store] and increased the ability of its free storage space strategy for a limited time. Customers who download and install the application in between January 15 and February 15, 2014 will certainly get free 50 GIGABYTES of on-line storage for the life of their accounts.