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Online Storage Provider Box Prices I.P.O. at $14 a Share

40 points by louhong 12y ago

mikeyouse 12y ago
There isn't much content in the article worth getting around the WSJ Paywall; Online-storage company Box Inc. priced its initial public offering at $14 apiece late Thursday, above expectations, according to a person familiar with the offering. The deal raised $175 million by selling 12.5 million shares, according to the person. The company had been looking to sell 12.5 million shares in the range of $11 to $13 a share, according to a regulatory filing. Box’s IPO comes roughly 10 months after it publicly filed for an IPO. Those plans were postponed amid a drop in demand for technology stocks, and in the ensuing months it turned to the private market to raise additional funding. Box plans to start trading Friday on the New York Stock Exchange under the ticker “BOX”. The deal is being led by Morgan Stanley, Credit Suisse and J.P. Morgan. (Hope it's okay to Mirror here)
- rokhayakebe 12y ago
  Sometimes I wished all articles were written as: Facts: Box, online storage co, CEO A. Levy, IPO set for xx/xx/20xx, previously raised $175M in x rounds, looking to raise $175M at PO, shares priced at $14, Underwriter is JPM. Opinion: Blah Blah Blah
  - sukilot 12y ago
    That's what crunchbase is for.
- deleted 12y ago
  [deleted]
- nzealand 12y ago
  This has some pretty graphs of the financials... https://gigaom.com/2015/01/21/box-ipo-what-a-long-strange-trip-its-been/ https://gigaom.com/2015/01/21/box-ipo-what-a-long-strange-tr...
loosescrews 12y ago
Who actually uses Box? Does anyone here use their service? Do they have some submarket cornered? Most of what I hear about them is related to their IPO or recruitment.
- somethingnew 12y ago
  My university uses them for file storage and sharing, so I imagine they have many large enterprise clients.
- spike021 12y ago
  I don't know that they have a submarket cornered per se, but my university seems to be using them exclusively for the online class system (log in / download lecture files, etc). On my own I've been using them for about 5 years, give or take. I use it over Dropbox a majority of the time. I personally like Box. I think it works well enough and it has a desktop syncing client for regular customers now. Used to be exclusive to business customers IIRC, so that was one of the things people didn't like.
  - loosescrews 12y ago
    What does Box do better than its competitors? Their small file size limit and lack of a Linux client have prevented me from using their service.
    - spike021 12y ago
      I think it's mostly on par from what I've used of DropBox and Google Drive. I'm sure there are some significant differences, however. Personally the only thing I've really had a problem with using Box is the small file size limit as well. But everything else has been smooth since starting to use it.
  - tmuir 12y ago
    What features does Box have that Dropbox doesnt? I realize that as a nonpaying user, I'm definitely not in the target market, but are there killer apps besides the normal usecases of a synced folder on all of your devices and sharing links to those files?
7Figures2Commas 12y ago
The NYT[1] has some important context missing in the WSJ summary: > At that price, the company will still be valued at $1.7 billion, but it is well below the $2.4 billion valuation sold to investors in a financing round last summer. The float looks small though, so there's hope for last round's muppets. [1] http://dealbook.nytimes.com/2015/01/22/online-storage-provider-box-prices-i-p-o-at-14-a-share/?_r=0 http://dealbook.nytimes.com/2015/01/22/online-storage-provid...
- bradb3030 12y ago
  Good post. I don't understand why they focused on share price. Companies routinely do reverse share splits pre-IPO to make the total number of shares what they need to be for the valuation divided by shares to equal $12-18. That point seems to be just a magical desired range for SaaS IPO's. Someone smarter than I may know the reason, but I think they could have hit nearly any share price they wanted to.
- dang 12y ago
  Thanks, we'll change the url to that from http://www.wsj.com/articles/box-inc-ipo-prices-at-14-a-share-above-expectations-1421971783 http://www.wsj.com/articles/box-inc-ipo-prices-at-14-a-share....
bruceb 12y ago
More on the delay from announcing their intention to IPO to actually getting there. https://news.ycombinator.com/item?id=8932932 https://news.ycombinator.com/item?id=8932932

40 points by louhong 12y ago

There isn't much content in the article worth getting around the WSJ Paywall; Online-storage company Box Inc. priced its initial public offering at $14 apiece late Thursday, above expectations, according to a person familiar with the offering. The deal raised $175 million by selling 12.5 million shares, according to the person. The company had been looking to sell 12.5 million shares in the range of $11 to $13 a share, according to a regulatory filing. Box’s IPO comes roughly 10 months after it publicly filed for an IPO. Those plans were postponed amid a drop in demand for technology stocks, and in the ensuing months it turned to the private market to raise additional funding. Box plans to start trading Friday on the New York Stock Exchange under the ticker “BOX”. The deal is being led by Morgan Stanley, Credit Suisse and J.P. Morgan. (Hope it's okay to Mirror here)

rokhayakebe 12y ago
Sometimes I wished all articles were written as: Facts: Box, online storage co, CEO A. Levy, IPO set for xx/xx/20xx, previously raised $175M in x rounds, looking to raise $175M at PO, shares priced at $14, Underwriter is JPM. Opinion: Blah Blah Blah
- sukilot 12y ago
  That's what crunchbase is for.
deleted 12y ago
[deleted]
nzealand 12y ago
This has some pretty graphs of the financials... https://gigaom.com/2015/01/21/box-ipo-what-a-long-strange-trip-its-been/ https://gigaom.com/2015/01/21/box-ipo-what-a-long-strange-tr...

loosescrews 12y ago

Who actually uses Box? Does anyone here use their service? Do they have some submarket cornered? Most of what I hear about them is related to their IPO or recruitment.

somethingnew 12y ago
My university uses them for file storage and sharing, so I imagine they have many large enterprise clients.
spike021 12y ago
I don't know that they have a submarket cornered per se, but my university seems to be using them exclusively for the online class system (log in / download lecture files, etc). On my own I've been using them for about 5 years, give or take. I use it over Dropbox a majority of the time. I personally like Box. I think it works well enough and it has a desktop syncing client for regular customers now. Used to be exclusive to business customers IIRC, so that was one of the things people didn't like.
- loosescrews 12y ago
  What does Box do better than its competitors? Their small file size limit and lack of a Linux client have prevented me from using their service.
  - spike021 12y ago
    I think it's mostly on par from what I've used of DropBox and Google Drive. I'm sure there are some significant differences, however. Personally the only thing I've really had a problem with using Box is the small file size limit as well. But everything else has been smooth since starting to use it.
- tmuir 12y ago
  What features does Box have that Dropbox doesnt? I realize that as a nonpaying user, I'm definitely not in the target market, but are there killer apps besides the normal usecases of a synced folder on all of your devices and sharing links to those files?

7Figures2Commas 12y ago

The NYT[1] has some important context missing in the WSJ summary: > At that price, the company will still be valued at $1.7 billion, but it is well below the $2.4 billion valuation sold to investors in a financing round last summer. The float looks small though, so there's hope for last round's muppets. [1] http://dealbook.nytimes.com/2015/01/22/online-storage-provider-box-prices-i-p-o-at-14-a-share/?_r=0 http://dealbook.nytimes.com/2015/01/22/online-storage-provid...

bradb3030 12y ago
Good post. I don't understand why they focused on share price. Companies routinely do reverse share splits pre-IPO to make the total number of shares what they need to be for the valuation divided by shares to equal $12-18. That point seems to be just a magical desired range for SaaS IPO's. Someone smarter than I may know the reason, but I think they could have hit nearly any share price they wanted to.
dang 12y ago
Thanks, we'll change the url to that from http://www.wsj.com/articles/box-inc-ipo-prices-at-14-a-share-above-expectations-1421971783 http://www.wsj.com/articles/box-inc-ipo-prices-at-14-a-share....

bruceb 12y ago

More on the delay from announcing their intention to IPO to actually getting there. https://news.ycombinator.com/item?id=8932932 https://news.ycombinator.com/item?id=8932932