Cloud file sharing company Box is finally at that point — it’s going public. Today, Box reportedly set the price for its IPO at $14 a share. That’s above the $11-$13 range it set earlier this month.
Reuters reported the $14 share figure, citing an underwriter. Renaissance Capital, an exchange-traded fund for IPOs, reported the same numbers later on in the day.
Today’s pricing, nearly 10 years after the company started, indicates Box has raised $175 million in the IPO before it starts trading tomorrow on the New York Stock Exchange under the symbol BOX. Box first filed to go public last year. The valuation stands at $1.67 billion, given 119,473,689 outstanding shares after the IPO, according to the latest available regulatory filing.
Box has been hard at work preparing for the IPO in the past couple of years, honing in on specific industries, making efforts to woo developers, and filling out its board, among other efforts.
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Box investors include U.S. Venture Partners, Scale Venture Partners, TPG Growth, and General Atlantic, among others. Midway through 2014, Box took on a $150 million funding round, allowing the company to stay private a bit longer.
A Box spokeswoman declined to comment, providing this statement:
We’re incredibly excited for the coming year and the next phase of Box’s growth. As always, our goal is to deliver amazing technology that transforms the way individuals and businesses work.
