With Dropbox Groups, businesses can finally sort folders based on departments

Dropbox is rolling out a new feature called Groups and a related API that should make it easier for businesses to manage all of their content stored in Dropbox, the file-sync-and share company is set to reveal on Thursday.

The new feature is now available for Dropbox for Business customers and was supposedly the most requested feature Dropbox customers — now hovering at over 100,000 businesses — were calling for, explained Dropbox product manager Waseem Daher in an interview.

Groups supposedly lets users create folders that only members of the appropriate group should have access to. The idea is that businesses can set up folders based on their departments and then assign the right staff members to those folders, said Daher. Now, marketing departments can create folders that contain their related documents and only sales and marketing staff should be able to touch them.

If a company hires a new salesperson, that new employee will “just need to be added to the sales group and they will automatically get access to all the content they need for the job,” said Daher. The new Groups interface will supposedly give IT administrators a central hub to manage all those employees in one place, and if a company wants, it can set up group owners with the ability to manage those folders as opposed to only IT staff.

The new Group API that’s also being released is similar to the recently launched Dropbox for Business API in that the API will give developers a chance to create custom applications or modifications to the new Groups feature per the needs of their organizations.

Daher said the biggest feature developers could create with the new API would be a custom integration with their organizations’ active directory, which some IT admins use to keep track of where all their company resources, user data and related items are be located.

Additionally, a bunch of identity-management and security startups — including Okta, OneLogin and Ping Identity — are all working on their own integrations with the new Group API, which makes sense because these startups are aiming to protect companies from rouge employees who may try sneaking into places they shouldn’t be. All of these startups have some sort of integration with active directory as part of their own technology, so the hope is that with the Group API they can just “mirror that right into Dropbox,” said Daher.

The new Groups feature is another example of how Dropbox has been busy morphing from a cloud storage repository into more of a workplace hub, similar to the company’s rival Box.

For these cloud storage startups to grow and court big enterprise clients, they need to show that they have more to offer than just a place to hold documents, as exemplified by the similar file-sync-and-share startup Egnyte moving into the data analytics space.

Box’s new service lets users hold on to their own encryption keys

It’s only been a few weeks since Box went public, but the file-sync company with a work-collaboration bent is rolling out a new encryption-key feature to entice big-name companies like the General Electrics of the world who are hesitant to jump to the cloud for security reasons.

Called Box Enterprise Key Management (EKM), the new tool basically allows for users to have full control of their encryption keys while still being able to use the [company]Box[/company] platform. Box will be working with customers to install an encryption appliance from the company SafeNet called a hardware security module (HSM) in both their on-premise data centers as well as in Amazon Web Services, according to a Box blog post by CEO Aaron Levie.

Each file that a customer sends over to his or her Box account gets a unique key “for each version of the file,” which Box then shoots over to the HSM; the appliance then encrypts the file “with the customer’s own key,” Levie wrote. At this point, Levie said that customers now have full control of the encryption key and Box can only access those files with customer approval.

What’s interesting is the role Amazon plays in this, which Levie doesn’t expand too much on in his post. According to a blog post by AWS chief evangelist Jeff Barr, the new feature “is powered by AWS CloudHSM,” which is the service that essentially links the HSM to a customer’s AWS cloud.

From the blog post detailing AWS CloudHSM:
[blockquote person=”” attribution=””]As part of the service, you have dedicated access to HSM capabilities in the cloud. AWS CloudHSM protects your cryptographic keys with tamper-resistant HSM appliances that are designed to comply with international (Common Criteria EAL4+) and U.S. Government (NIST FIPS 140-2) regulatory standards for cryptographic modules. You retain full control of your keys and cryptographic operations on the HSM, while Amazon manages and maintains the hardware without having access to your keys.[/blockquote]

I reached out to Box to elaborate a bit more on the role AWS’s technology plays into this new feature as well as if works across other cloud providers like [company]Google[/company] and [company]Microsoft[/company] and I’ll update this post if I hear back.

The new security tool is now available in beta and should be ready for public consumption this coming spring.

Update – 2:32 PM PT. A Box spokesperson sent us some comments.

Regarding if we will see similar features rolled out for other cloud providers:

[blockquote person=”Box spokesperson” attribution=”Box spokesperson”]We expect that over time other public cloud providers will follow our lead offer customers ability to manage their encryption keys. This may require making similar investments to architect the public cloud service to work with a key managed by the customer. As more cloud providers move to support this model, customers will have an easier time centralizing control over key management across their cloud applications.[/blockquote]

Regarding how the new feature utilizes AWS:
[blockquote person=”Box spokesperson” attribution=”Box spokesperson”]AWS CloudHSM is the hosting partner for the HSMs, that are part of the new Box EKM architecture. We are listening to our customers on their preferences for additional partners.[/blockquote]

Box shares close at $23.23 on its IPO day, up 66 percent

Box’s first appearance on Wall Street as a public company went off to a good start. The Los Altos company’s shares are priced at $21.79 as of 7:18 AM PST, which is up from yesterday’s set price of $14 a share. At closing time, Box’s shares ended up at $23.23, which is a 66 percent boost from the $14 share price. The company ended up raising $175 million on Friday through the IPO.

Box’s IPO is being closely watched by industry observers since the cloud storage and workplace collaboration startup first detailed its IPO plans back in March. With Box’s current share price hovering in the $20 range, it’s now valued over $2 billion, which puts it back in line with the $2.4 billion valuation the company received when it took in a $150 million funding round from TPG Capital and Coatue Management.

I’ll be following the day’s developments here in this post:

7:30 a.m. PST – Here’s a chart that gives a rundown of Box’s first minutes since going public.
generate_fund_chart

7:48 a.m. – Here’s a statement from Box CEO Aaron Levie on the IPO that we received:

[blockquote person=”Aaron Levie” attribution=”Aaron Levie”]We’re in the midst of a profound technology shift, as businesses of all sizes move their critical information and processes to the cloud. It’s an incredible time to be building an enterprise software company, and we couldn’t be more excited about Box’s future. [/blockquote]

Here’s Apple’s Tim Cook sending over good vibes to Box.

And if you were curious as to what type of socks Aaron Levie might be wearing on his big day, check them out here as he visited the ever-enthusiastic Jim Cramer:

8:02 a.m. – Box is now trading at about $22.67, off a high of $24.73 so far this morning, but there’s a long way to go.

8:16 a.m. – Well, perhaps Box did undervalue itself before going public, as Gigaom’s Stowe Boyd thought when we last spoke. Stowe and others speculated that Box originally set its share prices well below the $2.4 billion valuation it received in summer in order to underplay itself and “have some headroom.”

A Reuters report currently values the company “at nearly $3 billion.”

CNBC asked Levie about why the company set the price as it did and Levie replied “Our job is to try and get a fair valuation of our company in this process and I think that was the strategy we employed and let the market kind of figure out what the pricing is from there, and I think given the growth of the business I think you’ll see kind of what we’re up to.”

A look at the trading floor as Box opens

A photo posted by NYSE (@the_nyse) on

8:30 a.m. – Levie told CNBC that he thinks Box is misunderstood in that some people believe it is a consumer company and not an enterprise company. He then listed off some of the Box’s clients (of course starting with [company]General Electric[/company]) and reiterated that the company “helps manage corporate information, secure it, and then make it accessible in different devices, allow you to collaborate around it and that’s not really the focus of Google, which is much more consumer oriented.” Hmm, I bet [company]Google[/company] would disagree.

8:44 a.m.
Here’s what Levie told CNBC about Box’s burn rate and how it plans to make a profit:
[blockquote person=”Aaron Levie” attribution=”Aaron Levie”]We run the business far more conservatively from what is assumed because we’re going after such a large market. We care about the individual profitability on a per customer basis and right now we’re in the mode where we are going after this market in a big way with a product that’s very differentiated and I would just say to investors, certainly we would prefer investors that would understand that model, that understand the sort of replatforming of enterprise IT that is playing out.

When you think about the new, next generation IT model for a large organization it’s going to be services like Workday and Salesforce and ServiceNow and these platforms, and we’re trying to take the content management and the storage infrastructure from the on-premise environment and move that to the cloud. And the economics are pretty clear in the S-1 in terms of how we get to profitability in doing so.[/blockquote]

Check out Box’s numbers per its SEC filing and see if you agree with Levie:

[dataset id=”907258″]
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[dataset id=”907267″]
[dataset id=”907366″]

8:52 a.m.

9:27 a.m. – And speaking of Dropbox and what the Box IPO could mean for the long-time Box rival, Forrester’s vice president and principal analyst Rob Koplowitz shared his thoughts with me in an email:

[blockquote person=”Rob Koplowitz” attribution=”Rob Koplowitz”]I do see Dropbox and Box on a collision course if Dropbox continues to pursue the enterprise, and I have no reason to doubt that they will. People are saying they don’t compete, and it might look that way today, but in the long run they are just taking different paths to the same goal.
[/blockquote]

Also, Levie just responded to Tim Cook’s tweet. It’s warm and gushy. Investors should be pleased.

9:48 a.m.
Levie spoke to Fox Business and was asked about competition from companies like [company]Amazon[/company] and [company]Citrix[/company] and if “any of these companies keep you up at night?”

Levie replied that since the company was founded, they’ve always been in tough competition and said the following:
[blockquote person=”Aaron Levie” attribution=”Aaron Levie”]We’re talking about essentially, every bit of data in the entire world in enterprises needs to be managed; it needs to be stored, it needs to be secured, people need to access and share that information so there’s going to be a number of companies that want to help organizations do that and so we’ve always had competition in this process.[/blockquote]

Fox Business then asked about Box’s spending habits to which Levie replied:
[blockquote person=”Aaron Levie” attribution=”Aaron Levie”]It’s always a balance, right? We see a once in a lifetime transition from on-premise technology, on-premise computing, where every single year, tens of billions of dollars are spent on a legacy technology architecture and we see that, much of that, transitioning to the cloud. And there’s only going to be a few winners when that happens so we would like to obviously be one of those winners…

…As that technology all transitions to the cloud, we need to be able to help customers and be there as they are making that transition and that takes money and that takes investment and a salesforce and marketing and building out world-class technology and those are the investments that we’ve made.[/blockquote]

There’s those words again: sales and marketing. Box is entering new territory targeting potential customers in sectors that have historically been the realm of the big enterprise vendors companies like Microsoft, IBM and Citrix.

It’s likely that Box is going to be spending more on sales and marketing to compete against the big guys for these bountiful deals, and that’s going to require a team with the necessary skills and knowledge of each industry that Box is targeting — healthcare, legal, financial, etc.

10:00 a.m.

10:08 a.m.

10:31 a.m. — Box now trading at $23.72.

11:15 a.m. — So Box is clearly having a nice day with its shares performing much better than what some folks might have thought leading. However, not everyone is saying “BUY, BUY, BUY!”

Tom Taulli at IPO Playbook is weary of a publicly traded Box and he believes Box’s revenue growth is starting to stall, writing “During the quarter ended Oct. 31, revenues increased by 69% compared to a 98% ramp for the quarter ended Jan. 31.”

Like many others, he also sees intense competition from the big cloud providers and legacy companies and writes that “there are several examples of cloud operators that have been crushed by the competition.”

He then cites Millennial Media, Inc. as an example of a startup that got in over its head in the public marketplace where it had to battle Google and Apple in the mobile app space. He writes that “Since its IPO back in March 2012, Millennial Media has lost 94% of its value.”

Does Box face a similar fate?

And if you want to live vicariously through Levie on what it is like to become a public company, Marketplace Tech was there at the trading floor and captured some sounds. Honestly, I was hoping for a lot more yelling and chaos, like the running of the bulls.

11:38 a.m. — Future frenemies?

12:41 p.m. — Share price is at $23.48.

12:57 p.m.

1:35 p.m. — Final pricing:
generate_fund_chart 4

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This post will be updated throughout the day

Report: Box sets the price of IPO at $14 per share

Box plans to offer 12,500,000 shares priced at $14.00 per share during its IPO on Friday, according to a Reuters report late Thursday citing an underwriter. CNBC and the Wall Street Journal are also reporting that updated share price. Box will be trading on the New York Stock Exchange under the symbol BOX.

The pricing is higher than the $11 to $13 price per share the company was planning on last week. With the new pricing, the company is valued at around $1.67 billion.

Box, founded in 2005 by CEO Aaron Levie and Dylan Smith, first filed to go public in March but then wavered with its plans as the year went on, citing market problems. It wasn’t until this month that the company formally made public that it planned to go forth with its IPO plans.

In the filings, Box said it has over 32 million registered users and 44,000 paying organizations.

For the nine-month period ending October 31, 2014 Box landed $153.8 million in revenue while taking in a net loss of $121.5 million. It also had operating expenses of $242 million in operating expenses during that same time and has an accumulated deficit of $482.7 million.

Here’s a look at some of Box’s financials per the SEC filing:

[dataset id=”907258″]
[dataset id=”907266″]
[dataset id=”907267″]
[dataset id=”907366″]

Update: Box confirmed the price in an announcement.

Box IPO: What a long, strange trip it’s been

Box CEO Aaron Levie’s self-deprecating tweet on the day that the cloud-storage startup he co-founded in 2005 announced it was back on track to go public after months of delays pretty much summed up the collective enthusiasm of the tech community that’s been observing Box throughout the past year.

What seemed like a reason for the company to celebrate back in the spring of 2014 when the [company]Box[/company] made public its plans for an IPO turned out to be an elongated stretch of time that saw, among other things: Box wavering on its IPO plans on numerous occasions; raising a significant investment round; and unleashing a new product line that the company is hoping will make it a significant threat to competitors like [company]Google[/company], [company]Microsoft[/company] and [company]Citrix[/company].

It seemed like Box was just waiting for that perfect time to take the company public, and Levie even told Bloomberg Television in December that Box “should not have filed when we did,” citing a “market correction” that affected technology stocks.

But Box took advantage of the delay to work on its business. It’s tried to position itself as a serious player in the hot work-collaboration space, and the performance of its IPO could validate that strategy.

However, Box is not alone in the burgeoning field of work-collaboration, which appears to be one of the areas the cloud giants of Amazon, Google and Amazon will be battling for supremacy in now that the storage price wars seemed to have abated (for now). And, of course, it faces stiff competition with longtime rival Dropbox, who has made a similar push to invade the workspace through collaboration features.

Box is expected to go public this Friday, although a company spokesperson declined to confirm the exact timing. Will Box’s new enterprise product line and, as company filings show, an increase in revenue be enough to satisfy the stock market?

To answer this question, let’s take a look at how Box got to where it is now, starting from last spring.

The long road to an IPO

Box’s long road to an IPO began in earnest in March 2014 when the company filed the necessary paperwork with the SEC to get the gears in motion. A poor-performing marketplace put Box’s IPO plans on hold, but by early summer Box celebrated the fact that it landed General Electric as a customer, which would have 300,000 GE employees using the Box platform.

In July, Box received a $150 million funding round from private-equity firm TPG Capital and hedge fund Coatue Management, which valued the company at $2.4 billion. At the time, industry observers figured that the cash could buy the company some time for an eventual IPO in fall because the company was still plowing through money as it invested in sales and marketing — a common complaint for the company, but one that Levie seemed ready to defend as he told Re/Code before the company filed for an IPO and went quiet, “I would be the first to say we’ve been aggressive, but there is simply not another logical way to attack the market.”

If you were wondering why Box was spending so much on sales and marketing, in September Box had an answer: Box was working on a new product line that’s essentially a custom version of the Box platform that accommodates the needs of different industries, like retail, healthcare and media and entertainment.

As Gigaom Research’s Stowe Boyd told me, in order to sell these products Box needs a big sales staff that’s well-versed in different industries, especially as it aims to capture legacy clients that are part of regulated industries like healthcare.

Because companies like [company]IBM[/company], [company]Citrix[/company] and [company]Microsoft[/company] likely have been doing business deals with large companies in different industries for quite some time, it’s likely that they have sales teams that can speak the lingo. Box has had to build that (and is likely still building it), requiring it to invest a significant amount of money in sales and marketing staff that have the appropriate skill level and knowledge to capture new clients.

“Verticals—that makes things more complicated for them,” Boyd said. “They have to back up that rhetoric; it makes their sales cycle more complicated.”

Box CEO Aaron Levie hugs actor Jared Leto onstage at BoxWorks 2014. Photo by Jonathan Vanian/Gigaom

Box CEO Aaron Levie hugs actor Jared Leto onstage at BoxWorks 2014. Photo by Jonathan Vanian/Gigaom

In September Box also detailed an upcoming Box Workflow tool that it’s banking will be a hit in the workplace collaboration space; the product will include features like allowing companies to create timed notifications for time-sensitive documents, which Box will then ping the appropriate user though email or mobile device to address.

After making its product announcements, it seemed like fall was indeed the time for Box to go public as Alibaba’s huge IPO seemed like the right time to pounce on the market. Alas, the tech market took a bit of a downturn after the IPO and Box found itself again pushing back its big date with the public marketplace.

By mid-December, however, with both Hortonworks and New Relic both going public and becoming billion-dollar companies, the marketplace seemed stable enough for Box to finally reach the public market promised land.

About those financials…

This time around, Box is serious about going public, and in January the company detailed in its updated SEC filings that it’s planning to raise $186.9 million on Wall Street at a company valuation of $1.5 billion.

As Boyd pointed out, this new valuation is significantly lower than the $2.4 billion figure that was floated around last summer, but he believes that Box is “underplaying what the asking price for the IPO is so they have some headroom.”

The company doesn’t want to appear overconfident and end this drawn-out process on a “sour note,” he said.

Box has been growing in revenue per year since its founding and in 2014, it brought in $153.8 million in revenue for the nine-month period ending October 31; the prior year, Box took in $85.4 million in revenue.

[dataset id=”907258″]

As for losses, Box’s net loss went down from $125.2 million in 2013 to $121.5 million in 2014 for the same nine-month period that ended on October 31.

[dataset id=”907266″]

The good news is that Box’s net loss seems to have slowed down compared to its revenue, but the company is still spending a healthy amount of money on sales and marketing, which in 2014 for the nine-month period ending October 31 was $152.4 million as compared to $124.2 million in 2013.

[dataset id=”907267″]

With a new product line geared for specific industries, it’s clear Box will continue investing in sales and marketing to attract more clientele. In January 2013, the company had 689 employees and by the end of October 2014 it had 1,131 employees; it’s safe to assume that a good chunk of those new employees are sales and marketing people and as the company goes after more industries, like legal and financial, it’s only going to need to hire more.

“Certainly we’re all aware of Box’s sales and marketing spend, but they needed to garner marketshare in order to have the long term opportunity to monetize the platform,” wrote Forrester Research vice president and principal analyst Rob Koplowitz in an email. “If they have the seats, they can up-sell value over time.”

It will be worth watching what the company plans on doing with the $186.9 million it expects to raise and whether any of that cash will be used to pay off some of its accumulated deficit, which according to Box’s latest SEC filings, is at $482.7 million.

The SEC filings also show that Box plans to continue making “significant investments” into datacenter infrastructure, which is by no means a cheap investment; Google’s big data center in the Netherlands might cost the company $772 million, for example. Although to be fair, Box probably won’t be building anything to match Google’s scale just yet.

Structure 2012: Aaron Levie - Co-Founder and CEO, Box, Gary Orenstein - VP Products, Fusion-io

Structure 2012: Aaron Levie – Co-Founder and CEO, Box, Gary Orenstein – VP Products, Fusion-io

Building a competitive product

And therein lies Box’s big dilemma–it’s going to be hard to match the scale of companies like Google, Amazon or Microsoft. These companies can invest millions and millions into data centers and new products and Box doesn’t have nearly the amount of cash to compete dollar per dollar like those companies have been doing with each other.

The work-collaboration space is not where the three cloud giants are all deriving their primary income; that’s more of an ancillary feature that they can add to their cloud storage platforms as a way to further entice enterprise clients.

Forrester’s Koplowitz thinks Box has made a lot of progress on building features that distinguish it from rivals and that the company has clearly become more than just a cloud storage vendor. However, it remains to be seen if the company can make money on this path.

“They have a partner ecosystem that is helping them move in that direction,” wrote Koplowitz in an email. “So, the question is less ‘are they differentiating?’ and more ‘are they able to fully monetize their differentiation?’”

[dataset id=”907366″]

Dropbox faces a similar dilemma as Box, but it has an enormous user base and is prevalent among consumers who might be using Dropbox at work even though their office might encourage the use of a corporate storage account.

And then there’s Slack, a rising enterprise startup that’s gotten a lot of traction and seems poised to be a big player in the work-collaboration space. Its workplace chat service has been the talk of the town for users and developers, and it seems as if it’s also a trojan horse of sorts; in that once Slack infiltrates a client through chat, there are so many avenues it could infiltrate to make work a better experience for its users.

In September, the company bought the small startup Spaces, whose central technology is a customized document that users can collaborate together with on editing, graphics, annotations, etc.

Sound familiar? That’s because Box, Dropbox, Google, Amazon and Microsoft have all been working on similar projects.

The big takeaway from Box’s IPO is that the company is not going public as merely a file-sync-and-share company, but rather as an “enterprise content collaboration platform,” as it describes itself in its SEC filings.

The file-sync-and-share players have spent the past few years trying to get out of being merely cloud storage middlemen; Box rival Egnyte just this week said it wants to make a push into being a data management and analytics company.

Now that Box seems confident as a solid workplace collaboration platform after a 2014 that saw the company see-sawing with its IPO plans, it has the products in place that could potentially attract more big, legacy companies like GE.

The problem is making sure that it can attract enough of these lucrative contracts and retain clients so that it can finally be profitable. Box admits that this is a tough goal for the company and said in its SEC filings, “We cannot assure you that we will achieve profitability in the future or that, if we do become profitable, we will sustain profitability.”

Once a company goes public, the tolerance for big losses can fade away and you can look at Amazon as an example of a cloud company in bad graces with Wall Street. Box can continue putting in its “non-profitability disclaimer” in its SEC filings, but that’s more than likely not reassuring to the marketplace.

Investors who take the plunge Friday are hoping Box can reel in the big clients and stave off any attacks from the big-cloud providers or legacy IT companies who are eyeing the same customers. We’ll have to wait until the end of 2015 to see how that plays out.

Egnyte eyes analytics as way to move out of file-sync-and-share

Egnyte wants to be more than just a file-sync-and-share player and hopes to reposition itself as a data management and analytics company. On Tuesday, the Mountain View-based startup will unveil data analytics features that should help users better manage their files and documents.

“The [file-sync-and-share market] is a decent-sized market, but overly crowded,” said Egnyte CEO Vineet Jain. “I believe it will cease to be a category and it will be a feature set.” This statement echoes what Steve Jobs thought of Dropbox, king of the file-sync-and-share startups, way back in 2009.

If it works as advertised, Egnyte’s new Adaptive Enterprise File Services will analyze how users access their storage, whether on-premise or in the cloud, and reveal which documents are downloaded the most and are the most collaborated on. It will also allow users to share documents with other companies in the case that they are working on a joint project, and users should be able to see a full “audit trail” that will let them know if the documents have been downloaded by other parties, Jain explained.

IT administrators now can automatically archive data that hasn’t been touched in a long time, select the appropriate storage mechanism for the type of data being stored and discover who may be doing something suspicious with all that data.

“We can make the recommendation to move to Amazon Glacier, the cheapest storage in the cloud, and do atomic filing, [which] cuts down the cost,” Jain said.

Egnyte EFSS diagram

Egnyte EFSS diagram

Later this year Egnyte plans to roll out automation features that should make it possible for the Egnyte service to provision “the movement of data without humans touching it,” said Jain.

Jain wouldn’t elaborate on what exactly Egnyte’s engineering team is working on to make sure that the service can deliver on what it promises, but he said there’s “a lot of work ahead.” The “biggest challenge” facing Egnyte is making sure that its upcoming automation features scale well for its big clients who may have upwards of 25,000 users, Jain explained.

As the cloud-storage wars taught us, it’s not enough to just offer cheap storage, since the big cloud providers of [company]Google[/company], [company]Amazon[/company] and [company]Microsoft[/company] are willing to outdo each other over price. Now, if a company wants to make a name for itself as a storage-service provider, it’s going to be up to the features it delivers to make itself stand out from the pack.

“I want the market space to be the biggest possible to build a company for the long run,” said Jain.

Egnyte is going to have to innovate if it wants to outdo its larger competitors. The company has raised $62.5 Million since its inception that it can use to invest in new features, but that’s not a whole lot of money compared to how much the big guys have.

Box back on track for IPO; valued at roughly $1.5 billion

Box laid out the details of its long-awaited IPO and plans to raise $186.9 million with the company valued at roughly $1.5 billion, the startup detailed in an SEC filing on Friday.

The startup, which plans to be listed on the New York Stock Exchange under the symbol “BOX,” will offer 12.5 million shares of its Class A common stock with each share priced between $11 and $13.

The filing also includes Box’s updated financials and user statistics, which the company revised in December. The company claims it has over 32 million registered users and 44,000 paying organizations.

Box took in $153.8 million in revenue for 2014 compared to $85.4 million in 2013 for the nine-month period ending October 31. For that same time period, Box’s net loss shrunk from $125.2 million to $121.5 million.

Here’s a look at some of Box’s numbers per the regulatory file:

Box filing - Jan 9

Box filing – Jan 9

Box cites [company]Citrix[/company], Dropbox, [company]EMC[/company], [company]Google[/company] and [company]Microsoft[/company] as competitors, according to the filing. The filing also states that Box boosted employee headcount from 689 employees in January 2013 to 1,131 employees by the end of October 2014.

Now that the company seems poised for an IPO, all eyes will be on the file-sync-and-share player which has been trying to make a name for itself in the workplace-collaboration space as well with industry specific services and a newly announced workflow-management product line.

Box put off its long-awaited IPO several times last year, first filing to go public in March. When that didn’t pan out, the company decided to take in a $150 million funding round in July. Box CEO and co-founder Aaron Levie recently told Bloomberg Television that the startup “should not have filed when we did,” citing a “bit of a market correction in the tech-stocks space.”

With [company]New Relic[/company] and [company]Hortonworks[/company] both being examples of enterprise startups taking a stab at the public markets in recent months, it will be worth following up on Box to see how its current IPO plans pan out.

Levie tweeted the following on Friday in response to the IPO plans.