Raise $150 million in box valuation

Recently, according to foreign media reports, according to people familiar with the matter, the cloud storage provider box has been funded by TPG Capital and Coatue management 150 million U.S. dollars, the valuation reached 2.4 billion U.S. dollars. Box has filed an initial public offering (IPO) with documents submitted earlier this year.

As the IPO market slumps, Box has announced a moratorium on its IPO plans, so the money will give the company some more time to make it more flexible in deciding when to launch. This round of financing also shows that investors in private-equity markets are willing to raise the value of box, but it also creates some pressure on the latter to succeed in a later listing.

Box filed a document in March this year, hoping to finance 250 million of dollars through an IPO. The company also disclosed that in the fiscal year ending January, sales and marketing costs amounted to $171.2 million trillion, a sharp climb of 73%, more than 38% of the revenue generated. The data led investors to worry about the long-term viability of Box's business model, so that the company had to wait for a better market environment to implement its IPO plan.

Intense competition

A spokesman for the box said last month that the company's plan was "still on the market when it was best suited for box and markets".

Box was founded in 2005 by Le Vil Smith and Duren Smith (Levie and Dylan Smith), when 2 people were still college students. Box is currently competing with fast-growing start-ups such as Dropbox and facing the world's largest technology companies, including Microsoft, Google, Apple and Amazon. Like its rivals, Box's business involves a wide range of industries, from manufacturing to finance to the media.

TPG has also supported other tech start-ups in the late developing period, such as Airbnb and Uber, a rental company.