Box prepares to expand in Europe

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Box, which is a cloud storage providing company, has been planning on expanding its services or operations to outside of the United States for sometime now. The company has officially talked about this now. The company would be setting up its offices in Germany and France in the coming months. And the company also has plans of hiring more people in the marketing and the sales deparment in these markets who would be capable of introducing the services of the company to some new markets and sectors.

Aaron W. Levie, 28, chief executive officer of the privately held company, said that he would be hiring about a hundred people in the marketing, sales, and product development in Paris and Munich, where the company’s next two offices will be. Currently, the company is based off in Los Altos, California. The company has raised about $150 million from investors last year to expand its operations to outside of the United States, and it is going to happen this year.

The company has significant amount of competition in the cloud storage industry from the industry leader Amazon Web Services. And the other players include Google, Microsoft, IBM, HP, DropBox, and many more. The company will be working against companies like these in markets including Japan, Singapore, Australia and Brazil. The New York Times writes:

“Right now we’re in aggressive expansion mode because international expansion is really key to our strategy,” Mr. Levie said in an interview in London, where he announced the plans for Europe. While he would not provide numbers, Mr. Levie said business was increasing significantly in “Europe and beyond.”

The CEO of the company said that the expansion of the business was a part of the plan to go public in the next year, which the company has been planning for some time. And even though the CEO is said to have not disclosed any actual figures, he has valued the company at $1 billion.

Source: The New York Times