Box Said to Hold Off on IPO Until June as Tech Stocks Tumble
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Box Inc., the cloud-storage provider that filed for an initial public offering last month, is waiting until the market improves before kicking off a promotional tour, people familiar with the matter said.
Box, led by Chief Executive Officer Aaron Levie, may need to wait until June before officially marketing the deal to investors, said the people, who asked not to be named because the process is private. Los Altos, California-based Box filed to raise $250 million in an IPO on March 24, using that figure as a placeholder without giving the number of shares or price.