Box may be delaying its IPO

Box Logo
We know that Box has filed for an IPO, but a date has not been set yet. According to The Wall Street Journal, Box may be setting the IPO to a date that is later than planned. Box filed for an IPO on March 24th and could have listed shares as early as this May. But Box may wait until June.

According to WSJ’s sources, the timing was not right because investor interest in cloud computing stocks seems to have slowed down. An index of 37 public cloud companies produced by Bessemer Venture Partners shows that the stocks dipped by $58 billion in market value in the past two months.

Another reason may be because of Box’s financials, which shows that the company is burning cash at a rapid pace. Box raised over $400 million in funding and burned through around $300 million of that. Box burned through $168 million in the last year alone.

[Source]

Leave a Comment