Now we know what Box has in mind for some of that $150 million it raised last month: It’s gonna buy more stuff and now has a new SVP, Villi Illtchev, to help with purchase decisions.
Illtchev, a former [company]Salesforce.com[/company] and [company]Lifelock[/company] executive, started at Box on Monday. His appointment was first reported in Re/code Tuesday night.
It’s not as if [company]Box[/company] is a stranger to acquisitions. It purchased Crocodoc, which became the basis of file-preview features, and Folders, a French company with technology that lets Box users open up multiple file types on their iOS devices. It also bought technology from dLoop, a small machine learning specialist, in January.
Last week on the Structure podcast, Box CEO Aaron Levie (pictured above) referred to the $150 million in funding when asked about the status of Box’s IPO. “We obviously filed at a unique time early in the spring, when a market correction occurred that made it less desirable to go out and be public,” he said. “We ultimately raised $150 million in additional capital that allows us to invest in the business and grow it at the rate we’ve been working on.”
Illtchev will report to Box’s co-founder and CFO Dylan Parker.
For Levie’s podcast, chat check out the link below — he starts at about minute 15.