Box reportedly brings in $150M in new funding; pushes off IPO

by tech on July 7, 2014

Cloud storage and file-sharing company Box has brought in $150 million from private-equity firm TPG Capital and Coatue Management, a hedge fund, according to a report in The Wall Street Journal (registration required) that cited two unnamed sources.

Box has long been awaiting a possible IPO and even filed IPO paperwork on March 24, indicating that the company could be going public as soon as June. That obviously did not happen.

An influx of cash will help preserve Box for another couple of months as the company plans on going public until after Labor Day of this year, according to the Wall Street Journal.

With this round of investment Box is now valued at $2.4 billion, which the Journal writes is “only slightly higher than last December,” when the company landed $100 million in funding.

We’ve reached out to Box for comment and will update this story as needed.

 

 

Related research and analysis from Gigaom Research:
Subscriber content. Sign up for a free trial.

Powered by WPeMatico

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>