Finally, last week Box filed S-1 with SEC to go public. It’s about time.
I use Box every now and then to store important documents. I am not a customer, just a free user with 50GB storage, out of which, I have used 145MB.
Box doesn’t make money, this wasn’t news to me. I knew this back when I prepared its 2011 tax return. In fact, it has long been speculated that Box is deep in red but the IPO news played out like an alarm clock going off. Overnight, every tech blogger out there turned into a financial analyst trying to warn the masses of the impending doom. That’s what I love about the internet, it’s free amusement for the knowledgeable and trivial anxiety for the gullible.
In the sea of startups, there is only one startup out there that has focused 100% on one thing and just one thing. That’s Box and the focus is enterprise cloud storage. Do one thing and do it right. Once the core product is nailed, they will have have all the time in the world to diversify their offerings.
After the IPO, things will get quite tough for Box. Wall street likes to see increase in revenues even if that doesn’t translate into profits. So far, that’s one thing going in the right direction for Box.
I promised myself that I won’t use the word “bleeding” in my post while talking about Box and won’t mention Aaron Levie’s ownership percentage in the company. I think I have succeeded, temptation has nothing on me.
But, I really suggest you read this Quora response by the man himself about his ownership percentage.
It takes lot of persistence to survive this long, I wish all the best to Box, its employees and investors.
Photo Credit: TechRepublic