Web storage provider Box unwraps IPO seeking $250M

Mar 24, 2014

Online storage provider Box is the latest rapidly growing Silicon Valley company seeking to strike it rich in the stock market.

The Los Altos, Calif., company took its first step toward making its market debut with a Monday filing for an .

Box Inc. indicated it hopes to raise $250 million in its IPO, although that figure usually changes as investment bankers gauge investor demand.

The documents didn't set a price range for the shares or how much stock will be sold. Those details usually emerge as the IPO nears completion, a process that often takes three to four months.

Box says more than 25 million registered users store documents and other content on its service. The company lost $169 million on revenue of $124 million last year.

Explore further: Preview: 'Candy Crush' maker King to go public

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