The long-awaited public offering is happening.
The long-awaited public offering is happening.
Online storage company Box, co-founded by CEO Aaron Levie, had been widely expected to make its public debut last year. It filed for an IPO back in March 2014. But a nasty selloff in the tech markets early last year put those plans on hold.
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The quarterly results included in the firm’s updated SEC filing released Friday showed revenues rising 70% to $57 million in the fourth quarter. That’s a slowdown from the 81% growth the company posted the previous quarter.
Decelerating revenue growth could make box a tough sell to investors, especially as Box and and fellow upstart Dropbox now face competition from tech behemoths such as Amazon $AMZN.com and Google $GOOGL whose entry into the online storage market has put pressure on prices.
