Box Seeks IPO Valuation Between $2B and $3B Amid Rapid Growth
Box is a cloud content management and collaboration platform used by more than 15 million users. The company, founded in 2005, has disrupted the global enterprise software market, taking on giants like Google, Yahoo, Amazon, and Apple.
With over $300 million in funding from prominent investors such as Andreessen Horowitz, Salesforce.com, and SAP Ventures, Box is focused on expansion and investment rather than profit. The company has seen significant revenue growth, with a 150 percent increase in 2012 and plans to double its revenue in 2013.
Box's clients include well-known companies like Gap, Netflix, and Sony Music, and the platform is being expanded into the healthcare sector. Recent funding has fueled rumors of an initial public offering (IPO) in 2013 at a valuation between $2 billion and $3 billion.
The company has also made recent acquisitions, including document collaboration company Crocodoc, with which it aims to further enhance its platform.