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It’s been an interesting month for Box. Heck, it’s been an interesting year.
- June 2013 — OpenText files suit against Box
- December 2013 — Box raises $100 million in series F funding, giving it a total valuation of $2 billion
- January 2014 — Box secretly files for an IPO
- January 2014 — First OpenText/Box hearing
- March 2014 — Box formally files for IPO to raise $250 million
- March 2014 — OpenText claims $268 million in damages
- May 2014 — Box postpones its IPO, citing unfavorable market conditions
- May 2014 — GE announces agreement to implement Box for up to 300,000 customers, for unknown revenue
Now, according to Silicon Valley Business Journal, the Box IPO may be on again, thanks to stronger-than-expected IPO results for Zendesk. In fact, it could be announced soon after the Memorial Day holiday, writes SVBJ’s Cromwell Schubarth. Quartz also predicted that Box would do its IPO around Memorial Day, while Bloomberg expects it to happen in June.
Box was criticized for losing money, particularly on marketing, after postponing its IPO (though the company said it didn’t really count as a postponement, because it had never set a date in the first place). On the other hand, it’s not really fair to blame Box for the postponement; Schubarth notes that as many as a dozen other companies — and that’s just the ones with public IPOs — are in a similar predicament.
The GE deal, coming just one day after the IPO postponement, provided a much-needed shot in the arm for the company. Makes you wonder why Box even postponed the IPO in the first place, knowing this was coming down the pike, though as the Wall Street Journal pointed out, several other technology IPOs raised less money than they expected.
If Box does end up going IPO in June — let alone late May — it’s going to be the capper to quite the year.