Is it time to think outside of the Box? According to Virginia Backaitis of CMS Wire, the cloud synchronization and storage company’s products are highly lauded among users and even nonusers, as is CEO and cofounder Aaron Levie. But, Backaitis reports, all may not be rosy at this cubistic company.
Yesterday, Box tweeted it was going public, and “while announcements like this always lend themselves to much cheer and elation, there was something sobering about what the documents filed yesterday held,” Backaitis says. The fact the company spent $171.2 million on sales and marketing to bring in $124 million in revenue was first on the list. The fact that the company has been around since 2005 and Levie is a “tech celebrity” means these kinds of dollars needn’t be spent on marketing, says Backaitis.
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