Mike Nudelman/Business InsiderBox CEO Aaron LevieOn Friday, Box updated its S1 and confirmed that it has launched its roadshow, one of the first steps IPO-bound companies go through to sell its stocks to investors.
Box's stock offering valued the company at a maximum of $1.5 billion, or just about two-thirds of valuation of $2.4 billion as of last summer.
The S-1 didn't have any updated financials, as Box's fiscal year ends later this month. Most importantly, the S-1 is a financial document, and doesn't really address two big hanging questions:
- Box started its business around online storage, which is becoming a commodity.
- Box's sales and marketing cost is insanely high, and outstripped its revenues until recently.
But in a roadshow video posted on RetailRoadshow, Box's management team, including CEO Aaron Levie, CFO Dylan Smith, and COO Dan Levin, showed some slides that at least partially answer those concerns.