The company, which allows its 25m users to save, edit and share documents online in the so-called “cloud”, will become the latest in a string of technology companies to float amid sky-high valuations, reports The Telegraph.
Box’s stock exchange filing on Monday night revealed that its revenues in the year to January 31 had more than doubled to $124.2m, but that its losses had widened from $112.6m the year before to $168.6m.
The company is likely to be valued at upwards of $2bn, despite its IPO filing revealing that “[Box has] a history of cumulative losses, and [does] not expect to be profitable for the foreseeable future.”
Mr Levie, who founded Box in 2005 after dropping out of college, owns a 4.1pc stake in Box, which is valued at $82m based on the $2bn that a funding round in December valued the company at.
The listing comes amid a raft of technology flotations, with US markets at all-time highs. The social network Twitter is valued at close to $30bn despite expanding losses and King, the British company behind the smartphone sensation Candy Crush Saga, is expected to be valued at more than $7bn when it floats this week.
Like Twitter and King, Box plans to snub the technology-heavy Nasdaq index and list its shares on the New York Stock Exchange.
