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A couple low ones surprised me. How did Aaron Levine wind up with so little of Box? Many cofounders to share with? Large server costs requiring VC? Down round?
by mathattack 10y ago
A couple low ones surprised me. How did Aaron Levine wind up with so little of Box? Many cofounders to share with? Large server costs requiring VC? Down round?
- jasonshen 10y agoBox spent a lot of money on sales and marketing acquiring customers and so IPO'd after in 2014 after being at a net loss of $168M over the course of 2013. Levie had to give up a lot of equity to justify raising more money. More in this TC article: https://techcrunch.com/2014/03/24/hotshot-ceo-aaron-levie-will-only-own-5-7-of-box-when-it-ipos-investor-dfj-owns-25-5/ https://techcrunch.com/2014/03/24/hotshot-ceo-aaron-levie-wi...
- mathattack 10y agoThanks! That must have been humbling, though it got Box through the ordeal and I am sure he is doing fine.
- cloudjacker 10y agoBox has lots and lots of founder and unnecessary executive people Small pieces of a small pie
- jomamaxx 10y agoBox is in a rough businesses. They are offering a commodity product in a very competitive landscape and so they have tons of upfront costs, and have to buy their way into the market. As far as 'cloud storage' - the winners in the game are truly the consumers. I mean, it's cheap for us.