Friday12 August 2022

$100 million investment for storage service Box

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Box, one of the most popular service for storing data in the cloud, has collected about $100 million of fresh investment capital, according to company's CEO Aaron Levie. In search for investors they turned to Europe, Japan, Australia and Latin America, since these are regions where they are planning to expand their business. After collecting this amount, the value of the company is estimated at about $2 billion.

New investments came from existing investors, as well as from new companies in the field of telecommunications, trade and investment funds. This money will be used to open a subsidiary in Japan, Australia andBrazil during 2014., while a large portion will be invested in the Box's European headquarters in London where there will be an increased number of employees.

The focus of the company's development has been placed on business users who pay for the service of storage, and it is estimated that currently there are about 180,000 of them. In addition, Box provides storage for about 20 million private customers worldwide.

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Last modified on Sunday, 08 December 2013 20:37

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