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Sync'n'share firm Box secretly files for IPO

Dropbox-style offering possibly worth up to $2bn

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Enterprise-focused file sync'n'share outfit Box has secretly filed an IPO intention with the SEC and not shared it with anybody in advance, according to media outlet Quartz and others.

Box is fighting it out with Dropbox for the lead in the enterprise file-sharing market, which is largely based on putting files in a cloud reservation accessed by authorised users.

An alternate approach is to put files into a virtual reservation in a company’s data centre with user access through the file sync'n'sharer’s end-point agent software.

Dropbox recently received $250m in VC funding, giving it an implied valuation of $10bn. Box received $100m in December, giving it an implied valuation of $2bn.

Apparently, if your annual revenue is less than a billion bucks then you can file the S1 IPO papers in confidence. Twitter has done this. Speculation is that Box could IPO in the second half of 2014. ®

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