It looks like Box is finally going public early this year.
According to its S1, Box is offering 12.5 million shares in the price range of $US11 to $US13, which would raise around $US135 million.
That would value the company at a maximum of $US1.5 billion, which is about two-thirds what the company was valued at in July, when it raised $US150 million at a $US2.4 billion valuation. That funding round came with some onerous conditions from investors that basically required Box to go public before July 7, 2015, or face further dilution of its stock.
Box’s IPO process has been quite unusual. It first filed to go public back in March, but delayed the IPO several times citing cooling market conditions for cloud companies.
In an interview with Business Insider in November, Box CEO Aaron Levie admitted the process has been “unusual,” saying he wouldn’t have filed at the time he did if he had known what was going to happen to the market.
“We’re incredibly excited for the coming year and the next phase of Box’s growth. As always, our goal is to deliver amazing technology that transforms the way individuals and businesses work,” Box told us in a statement.