Box has reportedly filed for an initial public offering (IPO), according to sources with Quartz, which means that they could be a public company before their largest rival Dropbox. There is a law associated with the JOBS Act that allows companies to confidentially file documents for a future IPO. Twitter took advantage of this law during their IPO as well.
?We don?t have anything to share at this time. We?re focused on continuing to build our business and expand our customer relationships globally,? stated a Box spokesman in an interview with Quartz.
Box is reportedly working with Morgan Stanley, Credit Suisse, and JPMorgan Chase to underwrite their stock offering. Box raised over $100 million in 2012 with a valuation of over $1 billion. Box could raise around $500 million in an IPO.