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.