Talk about a roller coaster. The last two weeks have been full of highs and lows for Box co-founder and CEO Aaron Levie.
Last Monday, Box filed its S-1 on its way to an IPO. Instead of elation, most market watchers reacted with shock — and not the good kind. The Enterprise File Sync and Share (EFSS) company revealed losses of $168 million on revenue of $124 million. Even those who adore Levie called those stats “horrific”.
On Wednesday, Box held its first developers conference boxdev — Levie’s big shot supporters, like former Microsoft Windows’ chief Steven Sinofsky, were there, as well as VC’s like Jerry Chen of Greylock Partners, Ben Horowitz of Andreessen Horowitz, Mamoon Hamid General Partner — The Social+Capital Partnership, and several others. And the developers building solutions on top of Box’s platform were there for the lovefest as well. Levie was clearly king for a day.
But then Friday Box rival, Dropbox, revealed it had just purchased Readmill, a German company whose collaborative and social features could provide Dropbox with the same functionalities as Box’s Box View, which it announced at boxdev.
And then late last night OpenText, one of the top companies in the Enterprise Information Management space, announced it was seeking preliminary and permanent injunctions halting the sale of Box's products in connection with an ongoing patent infringement lawsuit.