The most awaited IPO of the year has finally arrived and Box is on its way to become publicly listed and traded company. Box has announced via Twitter that it has filed the required paperwork with United States Securities and Exchange Commission for its IPO.
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
According to the filing Box has now more than 25 million registered users and more than 34 thousand companies are paying for its services. Box has now 972 employees which is up from 369 in January 2012. The company’s revenue has jumped by 111 percent stood at $124.2 million at end January 2014 year on year basis.
The company has also revealed in its filing that it suffered a net loss of $168.6 million in the year ending on January 31st 2014.
According to Wall Street Journal assessment the company is valued at between $1.2 billion to $3 billion. Box is definitely a darling of the enterprise because it says that more than 200,000 businesses are subscribed to its services which are more than just cloud storage. Box also claims that 97 percent of Fortune 500 are served by its services.