Online file storage Box is raising USD100 million in new funding, according to a public document that the startup filed last month, according to a report published by VentureBeat.
Box authorized the sale of 5.55 million of its shares or preferred stock at USD18 apiece, according to the October 14 filing. The share sale would give the company a valuation of just under USD2 billion, according to VC Experts. It is not yet clear whether the fundraising is already finished or not, VentureBeat said.
Much like its giant rival Dropbox, Box is a cloud storage that caters to the enterprise market. The firm aims to make file accessing and sharing very easy for. Box is currently based in Los Altos, California, according to the company's website.
Box is reportedly preparing for an initial public offering (IPO) next year. The firm has selected Credit Suisse, JPMorganChase, and Morgan Stanley to lead the proposed IPO, Reuters reported.
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