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Box CEO Aaron Levie Wants to Talk About Dropbox's Planned IPO

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Box CEO Aaron Levie has some thoughts about Dropbox’s public filing for an IPO.

Although both Box and Dropbox sell to customers online storage for their documents and data, Levie argues that they are two very different companies that target different kinds of customers.

He volunteered to comment to Fortune about Dropbox’s planned IPO, publicly confirmed on Friday in a regulatory filing, to help Wall Street understand the differences between the two businesses. While Box and Dropbox are “similar in some ways,” he says it’s “mostly in name” only.

“It’s his fault,” Levie joked, referring to Dropbox CEO Drew Houston giving his company a similar name two years after Box debuted in 2005. “He came after us.”

Levie praised Dropbox’s financial results, revealed for the first time in Friday filing. Dropbox’s sales are increasing year-by-year while it reduces its annual losses, albeit they were still a sizable $111.7 million in 2017.


Source :- fortune
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