Box, a pioneer in the file sync and share market, on Monday filed for its long-expected IPO, one the company hopes will bring in about $250 million.
In its Monday S-1 filing with the SEC, Box emphasized its cloud-based Enterprise Content Collaboration platform, which counts more than 34,000 organizations worldwide as paying customers, including over 40 percent of Fortune 500 businesses and 20 percent of Global 2000 companies. It also has 25 million registered users, including employees of 99 percent of Fortune 500 companies. Its largest deployment to date has more than 60,000 users.
About 93 percent of Box's registered users are nonpaying users.
The Box cloud-based Enterprise Content Collaboration platform allows users to access and collaborate on centralized content from anywhere, and can support globally distributed workers with multiple devices, Box wrote in the S-1.
The Box Enterprise Content Collaboration platform also integrates with such third-party applications as Salesforce.com and NetSuite, and can be integrated by third-party developers in new applications, Box wrote.
"To date, tens of thousands of third-party developers have leveraged our platform as the secure content layer for their applications, including developers that are part of our Box OneCloud ecosystem, which provides users with access to more than 1,000 iOS and Android third-party applications," the company wrote.
Even so, Box is still in very much of a startup mode, at least financially.
Box wrote in the S-1 that revenue for the company was $124.2 million for the year ended Jan. 31, 2014, which was over five times the revenue of $21.1 million it recorded for the year ended Dec. 31, 2011.
The company's losses, however, have been just as spectacular as its revenue. Box reported a loss of $168.6 million for the year ended Jan. 31, 2014, up from a loss of $50.3 million two years earlier. The company's accumulated losses totaled $361.2 million as of Jan. 31, 2014.
NEXT: Scaling The Business, Scaling Partnership Opportunities