Box Eyes Another Private Cash Infusion Before It IPOs
Max Morse/Getty Images
The company is reportedly in talks with private equity firm TPG - whose portfolio includes Burger King, J. Crew, and SurveyMonkey - for a cash injection of approximately $100 million at the $2 billion valuation it reached during its last funding round in December.
"Our plan continues to be to go public when it makes the most sense for Box and the market," a Box spokeswoman told The Wall Street Journal.
TPG, which counts itself as one of the largest private equity firms in the United States with over $50 billion under its management, has indicated that it would help Box delay its IPO if it chose to invest.
Without a TPG investment, Box is expected to IPO in July or August.
Box began the IPO process with a filing last March, only days before a precipitous drop among cloud storage stocks.
It's unclear why Box feels under pressure to collect more cash before going public. Considering the identical valuation, one wonders why TPG didn't invest last December.
It's uncommon for private investors to go in after a company has registered for an IPO. In 2012 and 2013, only 14 of 124 venture-backed companies recieved cash so late in the game.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market