Box laid out the details of its long-awaited IPO and plans to raise $186.9 million with the company valued at roughly $1.5 billion, the startup detailed in an SEC filing on Friday.
The startup, which plans to be listed on the New York Stock Exchange under the symbol “BOX,” will offer 12.5 million shares of its Class A common stock with each share priced between $11 and $13.
The filing also includes Box’s updated financials and user statistics, which the company revised in December. The company claims it has over 32 million registered users and 44,000 paying organizations.
Box took in $153.8 million in revenue for 2014 compared to $85.4 million in 2013 for the nine-month period ending October 31. For that same time period, Box’s net loss shrunk from $125.2 million to $121.5 million.
Here’s a look at some of Box’s numbers per the regulatory file:
Box cites [company]Citrix[/company], Dropbox, [company]EMC[/company], [company]Google[/company] and [company]Microsoft[/company] as competitors, according to the filing. The filing also states that Box boosted employee headcount from 689 employees in January 2013 to 1,131 employees by the end of October 2014.
Now that the company seems poised for an IPO, all eyes will be on the file-sync-and-share player which has been trying to make a name for itself in the workplace-collaboration space as well with industry specific services and a newly announced workflow-management product line.
Box put off its long-awaited IPO several times last year, first filing to go public in March. When that didn’t pan out, the company decided to take in a $150 million funding round in July. Box CEO and co-founder Aaron Levie recently told Bloomberg Television that the startup “should not have filed when we did,” citing a “bit of a market correction in the tech-stocks space.”
With [company]New Relic[/company] and [company]Hortonworks[/company] both being examples of enterprise startups taking a stab at the public markets in recent months, it will be worth following up on Box to see how its current IPO plans pan out.
Levie tweeted the following on Friday in response to the IPO plans.