In the weeks surrounding Box’s initial public offering announcement, the enterprise file sync and share vendor (EFSS) and its founder, Aaron Levie, couldn’t make enough news.
There was a mention of Levie’s appearance at SXSW and his name-dropping about Ashton Kutcher being an investor. And there was boxdev, Box’s Developers conference, which intended to build a community of 1,000 plus developers and give them the tools that they need to build rich solutions around Box.
While each of the aforementioned went off fabulously well, the IPO announcement sandwiched in between left the reputations of both Levie and Box less than optimal.
Why? Because Box’s S-1 filing revealed the company is spending much more than it is making — specifically, for every one dollar the company takes in, it spends $1.38.