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Box has high hopes for iOS 8 doc picker extension

Juan Carlos Perez | Sept. 18, 2014
Box foresees a significant jump in usage of its iPad and iPhone app resulting from one of the new extensions Apple will launch with the new iOS 8.

Box needs to take advantage of all the breaks and opportunities afforded to it. The 10-year old company, a pioneer in the now largely commoditized enterprise cloud storage and file sharing market, is in the midst of an evolution, as it branches out into content and document management, to grab a bigger piece of its customers' enterprise collaboration workloads.

As it battles bigger rivals like Google, Microsoft, Citrix, IBM and EMC, Box is also in mid-air financially, having filed in March for an IPO with the U.S. Securities and Exchange Commission that it still hasn't launched, leading critics to question whether the company has gotten cold feet about becoming a publicly traded company. Levie has brushed off these suggestions, saying that Box never had a specific date in mind, and that it will go public when it feels the time is right.

In the IPO filing, Box disclosed that it doesn't expect to turn a profit in the foreseeable future, that its sales and marketing costs have been very high so far with respect to its revenue and that only 7 percent of its about 25 million end users pay for the service.

Countering these concerns and red flags, the Los Altos, California company, which has about 1,000 employees, raised another US$150 million from its backers this summer, bringing the total invested so far in the company to about $450 million.

 

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