Cloud Storage Company Box Files for $250 Million IPO

Box has filed for a $250 million initial public offering, confirming reports from earlier this year that the company was preparing to go public.

Box said it achieved revenue of $124.2 million in its last fiscal year ending Jan. 31, but suffered a loss of $168.8 million as the company continues to invest in its growing business.

See also: Box Hasn't Gone Public Yet, But It's Already Holding Earnings Calls

"As a result of our continuing investments to scale our business in each of these areas, we do not expect to be profitable for the foreseeable future," the company wrote in its IPO filing.

Box shares will trade on the New York Stock Exchange under the ticker BOX. The move is a blow to the Nasdaq exchange, which has struggled to attract recent tech IPOs. Read more...

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