Box Reportedly Raises $150 Mln In Funding

(RTTNews) - Online storage startup Box Inc. has raised $150 million in funding from private-equity firm TPG and hedge fund Coatue Management, the Wall Street Journal reported Monday, citing to two people familiar with the matter.

The financing values Box at about $2.4 billion and may be announced as soon as this week, the Journal quoted the people as saying.

The Los Altos, California-based company filed for an initial public offering in March, but has delayed those plans.

Box expects to go public by the end of this year but not until after Labor Day, one of the people said, according to the Journal.