Box’s IPO is expected to raise $250M

Box Logo
On Monday, Box submitted an S-1 form with the Securities and Exchange Commission (SEC), which indicated that the storage company will be raising $250 million. Box reported slightly more than $124 million in revenue for the year ending on January 31, 2014. This is up from $58.8 million in the year before.

Box saw a net loss of $168.6 million for the same 12-month period, which is up from a loss of $112.6 million the year before. Box has 25 million users across 225,000 companies.

Around 93% of these users are not paying customers though. The other 7% are subscribers with a business or personal account.

[Source: TNW]

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