Analyst: Box May Soon Seek Another $US100 Million And Be Worth $US2 Billion

File-sharing company Box is making moves to try and raise another $US100 million in venture investment,
according to regulatory filings sharedwith Business Insider by
VC Experts.

VC Experts tracks and values private companies. You can read the filing embedded below this story.

If a new round happens, Box could be looking at a valuation just shy of $US2 billion, Justin Byers, Director of Business Intelligence, at VC Experts tells us.

Box declined to comment. But here’s what we know:

On Oct. 14, Box filed paperwork to authorise nearly 5.6 million shares of Series E-1 Preferred stock at a price $US18 per share.

In other words, it authorised $US100 million worth of this new preferred stock, Byers says.

This is on top of a previous round of series E Preferred stock authorised by the company on August 3, 2012, at a price of $US13.0949 per share.

“If the new Series E-1 Preferred is in fact a new round of financing, then VC Experts calculates the valuation following this round at just shy of $US2 billion. This could be the last big push prior to a potential IPO in 2014,” he said.

Box also has authorised Class B Common stock and there’s a huge price difference. “VC Experts obtained a filing from May 17, 2013, that showed the company pricing their Class B Common stock at $US4.63,” Byers said.

Box CEO Aaron Levie may be making a play to grab cash and a higher valuation now that his competitor Dropbox is reportedly seeking to raise another $US250 million, at a jaw-dropping $US8 billion valuation.

In July, 2012, Box raised a whopping $US125 million round and was valued at $US1 billion. Even without this potential new round, Box already has had $US309 million invested into it, including a $US25 million round in January.

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