

Online Storage Provider Box Prices I.P.O. at $14 a Share - louhong
http://dealbook.nytimes.com/2015/01/22/online-storage-provider-box-prices-i-p-o-at-14-a-share/

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mikeyouse
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)

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rokhayakebe
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

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sukilot
That's what crunchbase is for.

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7Figures2Commas
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-
provid...](http://dealbook.nytimes.com/2015/01/22/online-storage-provider-box-
prices-i-p-o-at-14-a-share/?_r=0)

~~~
bradb3030
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.

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bruceb
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)

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loosescrews
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.

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spike021
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.

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tmuir
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?

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tgokh
My university and hospital system recently rolled out Box across the whole
institution. I think the major difference is that Box is willing to sign a
Business Associate Agreement and ensure compliance with HIPAA standards. My
understanding is that Dropbox has been unwilling to negotiate and sign BAAs,
so the service can't be used for sensitive information without huge risk. At
least at our institution, we can store deidentified research data on Box, and
there are options available for storing Protected Health Information as well
(though it requires going through our Information Security office)

