You can be on Entrepreneur’s cover!

Report: Online Storage Startup Box Secretly Files for IPO Box, which counts Dropbox among its rivals, has reportedly filed to go public.

By Benjamin Kabin

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Box, the online storage startup that counts Dropbox among its rivals, has secretly filed for its initial public offering, according to reports.

Box, which is run by 29-year-old Aaron Levie and valued at more than $1 billion, raised more than $100 million in 2012. It's since taken cash from several major banks to underwrite its IPO. The company could be looking to raise about $500 million in going public, Quartz reported.

Related: Why Box's Co-founder Turned Down a $550 Million Offer That Would Have Made Him 'Phenomenally Wealthy' At 26

Under a new law, companies that earn less than $1 billion in revenue a year are allowed to file their IPO drafts with the Securities and Exchange Commission in secret. Box told Quartz it has nothing new to share at this time.

Earlier this month, competitor Dropbox closed a $250 million funding round at a $10 billion valuation, fueling ongoing rumors that the company is positioning itself to go public.

Related: Head in the Clouds: Dropbox Reportedly Valued at $10 Billion

Benjamin Kabin

Journalist

Benjamin Kabin is a Brooklyn-based technology journalist who specializes in security, startups, venture capital and social media.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

This Flexible Side Hustle Is Helping Millions Earn Extra Cash — and Might Be 'More Attractive' Than an Office Job

Side hustles remain popular for additional income — and have many questioning the 9-5 model altogether.

Business News

Renowned Psychologist Adam Grant Says This 3-Step Leadership Method Will Help Fight Employee Burnout

We spoke to the bestselling author at BetterUp's Uplift conference last week.

Business News

These Are Best Cities in the World for Remote Workers, According to a New Ranking

A recent report from Remote.com ranked over 100 cities in the world. Here's the best of the bunch.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

Demand For This Workforce Is Soaring – Here's How You Can Capitalize On This Thriving Talent Pool to Drive Your Company's Growth

Top platforms and practical tips for capitalizing on specialized independent talent.