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Box just surprisingly raised $150 million but still intends to go public this year

Quartz

Box has raised $150 million in capital from private equity firm TPG Capital and hedge fund Coatue Management, the company announced today.

The file-sharing startup had officially filed to take itself public back in March. But the market for tech IPOs had cooled, and Box was reassessing the optimal timing for its IPO, sources have said.

This latest capital injection—which values the Silicon Valley startup at about $2.4 billion, according to the Wall Street Journal—does not mean that it is abandoning plans to go public. It does mean that Box may not launch its IPO until this fall, later than it had originally hoped, the Journal reports.

“Our plan continues to be to go public when it makes the most sense for Box and the market. As always, investing in our customers, technology, and future growth remains our top priority. TPG and Coatue have great track records with growth companies like Box…

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