Cloud storage company Box is headed toward an IPO, and everyone got their first look at their S-1 filing last week. The prognosis is simple: Box has about another year left on its cash reserves, and going public is their best shot at floating a few extra years while they’re in the red.
And of course, as haters are wont to do, one curious Quora user took the opportunity to take shots at Box CEO Aaron Levie.
“Aaron Levie is down to a four percent stake heading into the Box IPO,” wrote the asker. “How does he feel watching DFJ and USVP laugh to the bank after ten years of sweat, blood, and tears?”
Of course, Mr. Levie showed up to defend himself:
“So far, I have yet to bleed while building Box,” Mr. Levie wrote, “And honestly, if anyone is regularly bleeding while building a software company, I would have some serious questions about their strategy and if they’re executing properly.”
It’s no mystery that Mr. Levie seems so rational — after all, his modest “four percent” is going to be a pretty hefty share post-IPO, as Jason Lemkin of Storm Ventures pointed out in the most up-voted Quora comment.
“My guesstimate is that Aaron will be worth $360m within 90 days of the IPO,” wrote Mr. Lemkin, “b/c my guess is it will settle into a valuation of about $6 billion.”
The S-1 filing means Box has beaten rival Dropbox to the fiscal punch, but Dropbox is posturing toward its own valuation.
Who knows? Maybe soon we’ll be seeing Dropbox CEO Drew Houston in a Reddit comment war.