If it’s true that Box has delayed its IPO, then we have one thing to say. Told you so.
We called it last week when we couldn’t find any signs that the enterprise file-sharing (EFSS) startup had embarked on its pre-IPO road show. It was hard for us to believe the company’s CEO, Aaron Levie, could dazzle potential investors without making so much as peep.
After all, Levie is smart, funny and he’s even a former magician. Suffice to say, he knows how to work a crowd.
But he didn’t get to do that last night. Not even on Twitter.
"Quiet periods are so much fun," said no one ever.— Aaron Levie (@levie) May 1, 2014
Box filed the paperwork for an initial public offering in late March, and announced its intention to trade on the New York Stock Exchange under the symbol "BOX." But we wonder: Are the bulls getting anxious on Wall St.?
Update: Box Responds
A Box spokesperson responded to our request for comment with the following:
Our IPO has never had a set date. Since filing, we've planned on going when it makes the most sense for the market. That plan hasn't changed."
Silence is … Frustrating?
Silicon Valley’s boy wonder was forced to bite his tongue while a cadre of mostly well-respected journalists reported what seems to be the obvious: that Box had delayed its much anticipated IPO until late May or early June, depending who you want to believe.
The reason for the supposed delay?
Poor market conditions, according to most. The Wall Street Journal noted that other Enterprise SaaS firms have taken a beating since Box filed its S-1 in March. They point to Veeva whose stock has dropped about 36 percent and Workday, which lost 25 percent.
Others suggest Box may want to give its fans a little time to recover after seeing its “horrid” financials.
We recommended, in an article published late last month, that Box learn to frame its overspending story better — its strategy, after all, might be right on the money when it comes to winning customers while it’s in the, real or perceived, leaders seat.
How long it can retain that position is hard to predict because competing vendors like EMC Syncplicity are winning, or on their way to winning, bigger deals than Box.
Just last week, David Goulden, CEO of EMC Information Infrastructure Group, noted on his company's first quarter earnings call: