Box Picks Up $150M More As It Waits For Favorable IPO Winds

▤ Summary

Box, a file-storage and management firm, has raised another $150 million from TPG and Coatue, according to the Wall Street Journal. The company is widely expected to update its S-1 filing in short order, detailing its fiscal first-quarter results. Box’s IPO was filed, but never launched as the company ran face first into declining market sentiment. How long that will take will likely hinge on its updated filing — if Box can show strong revenue growth and slowing losses, investors may be ready to tie the knot soon. The cloud storage space is among the hottest fronts of the larger platform wars, and Box wants to keep growing.

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