Enterprise cloud storage company Box has filed for an IPO.
Here are the five numbers you need to know:
- Revenue for the year ended January 31, 2014 was $US124 million, which is up 111%.
- It had a net loss of $US168 million over that period, compared to a loss of $US112 million the year before.
- Sales and marketing expenses were $US171 million. Note that this is higher than its revenue.
- Box has $US109 million in cash on hand, and it just raised $US100 million in December.
- Box wants to raise $US250 million.
In the filing, it says, “we do not expect to be profitable for the foreseeable future.”
Box does cloud storage much like Dropbox. But, instead of targeting consumers, it targets enterprises.