Undoubtedly Box is officially moving toward becoming a publicly-traded company.,
Box's S-1 will be publicly filed this afternoon. This tweet does not constitute an offer of any securities for sale.— Box (@BoxHQ) March 24, 2014
Here's a glance at the state of Box, by the numbers, based on the S-1 filing:
- 25 million+ registered users as of January 31
- 34,000+ companies paying to use the platform
- 972 employees as of January 31, 2014 -- up from 369 at the same point in 2012
- Revenue climbed 111 percent year-over-year to $124.2 million by the end of January 2014
- But there have been some notable net losses along the way: $50.3 million, $112.6 million and $168.6 million year-over-year for the 12-month time frames ending December 31, 2011, January 31, 2013 and 2014, respectively.
Anticipation for this particular IPO has been growing steadily over the last year since co-founder and CEO Aaron Levie revealed plans to Bloomberg in January 2013. Rumors started , reaching a fever pitch at the end of January 2014 with speculation over a secret filing.
Bloomberg then reported Box was planning to double its revenue this year to more than $200 million, with Morgan Stanley, Credit Suisse, and JPMorgan Chase working the IPO.,
Those financial institutions, among a few others, did indeed headline the S-1 filing.
Describing itself as "emerging growth company," Box is following Twitter's path and headed to the New York Stock Exchange under the ticker symbol, "BOX." The enterprise software darling is looking to raise $250 million.
Also demonstrated by a.k.a. the JOBS act., a company seeking to go public can file confidentially if it is valued at less than $1 billion, under the Jumpstart Our Businesses ACT,
Up until now, Box’s estimated worth has been pegged between $1.2 billion and $3 billion, based on a Wall Street Journal assessment back in December. That was amid completing a Series F round of venture capital fundraising, garnering $100 million.
The Los Altos, Calif.-based company was founded in 2005 by Levie and chief financial officer Dylan Smith.
[For the full origin story behind Box, head over to ZDNet sister site TechRepublic for the complete account about how Levie and his childhood friends founded the software company and continue to run it harmoniously to this day.]
Simplified from Box.net to Box, the company has since grown to employ nearly 1,000 people, most of whom are based in Silicon Valley. Additional sales offices have popped up in San Francisco andcontinuing throughout Europe and soon Asia.
Growing its repertoire of services from much more than just cloud-based storage space, Box.com has emerged as 97 percent of the Fortune 500.of apps and services for the enterprise. With more than 200,000 businesses already subscribed, Box asserts that it serves
Box’s eye on the enterprise is what typically separates itself from more consumer-focused software startups and private companies,and -- although both of which (among others) have stepped up their game in serving business customers.
Box has also built out a platform of third-party apps and integrations with the sometimes competitors like Google and .as well as partners/
The company has also proceeded with tackling, followed by .
In accordance with a strategy fusing industry partnerships with many homegrown products, Box has also made a few calculated acquisitions over the years.
Those include online document tool maker Increo Solutions in 2009, and , and for stepping up data analytics and security.
Box also made a number of leadership additions lately,of Cisco CTO Padmasree Warrior to the company's board, bringing the total tally up to nine members.
first CTO of the United States, and Glen Tullman, former CEO of electronic healthcare solutions provider Allscripts, as special advisors for consultation around the cloud company's evolving healthcare industry game plan., the Los Altos, Calif.-headquartered brand revealed it had tapped Aneesh Chopra,
One of the more attention-grabbing recruits who signed on last summer was, who served as president of the Windows division before he left the Redmond, Wash.-based corporation in 2012.
In the S-1 registration statement, Box acknowledged Microsoft as well as Citrix, Dropbox, EMC, and Google as its chief competitors in the cloud industry.