Telstra joins global US$100m investment in Box

Telstra has partaken in a US$100 million investment round into business file-sharing company Box, joining a number of other corporations from around the world.
Written by Josh Taylor, Contributor

Telstra, Telefónica, Itochu Technology Ventures, Macnica, DST Global, Coatue, and Mitsui have jointly invested US$100 million into DropBox file-sharing rival Box to help the company grow its presence in Europe, Latin America, Japan, and Australia.

Overnight, Box CEO Aaron Levie announced that the cloud-based file-sharing company had secured new strategic partnerships and investments with the companies to expand out into other markets, after first expanding into London in 2012.

He said that Japan would be the first cab off the rank, but said that partnering with telecommunications companies Telefónica and Telstra, would help Box grow in Australia and Latin America.

"These communications companies serve millions of individuals and businesses that are embracing the cloud and mobile, and we're eager to provide the platform where businesses in these regions manage information and collaboration," he said.

Telstra's investment is coming through its new Ventures group, which targeted Box for Telstra's enterprise cloud offering. The company's Ventures Managing Director Mark Sherman said the Box product would be offered to business and enterprise customers "in the coming months".

"Customers are harnessing the power of cloud, social and mobility in their desire to increasingly collaborate not only within their own business, but also with vendors, business partners, investors and other 3rd party providers. In the past, the challenge was maintaining control of file access and user privileges through the collaboration process," Sherman said in a statement.

"With Box, we will have the tools to overcome those issues. Additionally, using Box on Telstra's mobile network means customers can enjoy a faster and more reliable experience when accessing and collaborating with files on smart phones and tablets."

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