Box Targets Japan, Latin America And Australia In $100m Expansion Push
Box gains new partners and investment as it looks to increase its global footprint
Box has generated another $100 million in investment from new partners and existing backers as it seeks to expand into new markets, specifically Japan, Latin America and Australia.
CEO Aaron Levie says cloud services such as Google Apps and Salesfroce were proving popular in Japan, where an “incredible wave of IT transformation” was occurring, and that the company had appointed former president and CEO of Verisign Japan Katsunori Furuichi to head its operation in the country.
The cloud storage firm can also count on the local knowledge of partners, including Itochu, Macnica and Mitsui, to bring its products to SMBs and large businesses in the Japanese market.
Box expansion
Partnership agreements have also been reached with Telefonica Digital and Telstra to expand Box’s presence in Latin America and Australia respectively, and Levie says the deals mark the latest stage of its international expansion.
The Duke of York recently opened Box’s London office, and the company already has employees in Munich and Paris. Box offers its services in 13 languages and promises to support more, especially since 40 percent of its activity occurs outside the US.
“At Box, one of our biggest strategic focuses is working to support and reach enterprises everywhere in the world,” said Levie. “The coming year will be an exciting one for Box. In addition to expanding our global presence, we’ll be doubling down on creating amazing new experiences for end users, solving the most complex IT challenges simply and elegantly, and building a more powerful platform and ecosystem.
“Our new partners will help us connect and work with businesses in key global markets as they manage this transition.”
Box’s latest cash injection is likely to increase speculation regarding its widely expected initial public offering (IPO) next year. Recent reports suggested that the company has already identified its bankers for the floatation, which could generate up to $500 million.
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