Feeds

Box shock stock doc clocks 250 million bucks

Hoped-for IPO cash grab will nearly cover the last two years' losses

The essential guide to IT transformation

Box has filed its hotly anticipated initial public offering (IPO) paperwork to the US Securities and Exchange Commission (SEC).

The upstart's S-1 document was published this afternoon, US West Coast time, putting in motion its stock market debut. Box, which provides online file-sharing for businesses, wants to raise $250m from the IPO. The filing puts to rest lingering speculation that the company was preparing to grace the public market – fueling rumor was the appointment of Cisco CTO Padmasree Warrior to its board of directors.

In issuing the filing to the US financial watchdog, Box shed light on some of its internal numbers: it has 25 million registered users and 34,000 companies, which pay for the sync'n'share service. The upstart said it will doubled its revenue over the year, climbing from $58.79m in 2013 to $124.19m projected for 2014.

The growth in sales however, has come at a cost for Box. The company said it expects to operate at a net loss of $168.5m this year, up from a $112.5m loss in 2013.

"We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future," Box noted in its SEC filing.

Among the strategies Box has laid out in its filing for turning a profit are the continued transition towards extending its share-and-sync collaboration platform into other areas of the enterprise cloud space and target larger vertical markets.

Additionally, the company noted that it will seeking to extend its efforts to build an ecosystem around its platforms and establish a network of third-party developers to add Box connectivity to their own products and services.

The company will look to offer itself on the New York Stock Exchange under the symbol "BOX". A target date for the offering has not yet been given. ®

Boost IT visibility and business value

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?