Report: Box Revenue Projected to Top $200 M in 2014 Amid IPO, Acquisition Rumors
Cloud storage and file-sharing service Box has projected its revenue this year to double to more than $200 million, Bloomberg reported Friday.
While Box secretly filed for an IPO in January, it still has not made its plans public — but things may change.
According to unnamed sources in the report, Box plans to make its prospectus publicly available in the “next few weeks.” It’s important to note, however, that these sources said this time frame could shift.
A Box spokesperson said in an email that the company has no comment related to the information outlined in the Bloomberg report, but added: “We’re focused on continuing to build our business and expand our customer relationships globally.”
Last week Forbes reported that HP (HPQ) may be acquiring Box but later pulled the story from its website.
Quartz reported in January that Box already selected Morgan Stanley, Credit Suisse and JP Morgan Chase to lead the underwriting of its stock offering.
Some expected Box to file for an IPO early in 2014 after the company secured $100 million in new funding from new strategic partners to assist the company with international expansion. Box had raised just over $112 million total before that.
Additionally, Box today said it has acquired a handful of new media and entertainment customers, including Creative Artists Agency (CAA), Sony Music, Netflix, Scripps Networks Interactive and FOX Telecolombia S.A.
Dropbox, one of Box’s largest competitors, in February announced its most recent $350 million funding round, the Wall Street Journal (WSJ) reported. The financing included $325 million from investors, with an option to add another $125. The file-sharing company added another $25 million to the funding round, but does not have plans to expand the round any further, an unnamed source told the Journal.
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