Wall Street Journal June 20, 2014
Online-storage startup Box Inc., three months after filing for an initial public offering, is in talks to raise a round of funding from private-equity firm TPG that would help buy it time before an IPO, said people familiar with the matter.
The talks started up in recent weeks, as Box delayed its IPO plans in order to wait out a period of weak demand for technology stocks, one of these people said. The discussions with TPG are still early and may not result in a deal, they said.
A private investment would give Box more cash to invest in its rapid growth and greater freedom to control the timing of its IPO. Box’s March 24 IPO filing came shortly after tech stocks began their precipitous slide, putting the offering in limbo. The company was valued at $2 billion in December during its last funding round.
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