Box Watch No 2 100M More Please

Maybe Re/code has a bug  (of the non-insect variety) planted in Aaron Levie’s hair or an electronic tracking device imbedded in his shoes. But somehow the site has learned — and is now reporting —that Box is considering taking on $100 million from investors.

Re/code reported that Box is in the early stages of talks with private equity firm TPG. It quoted “sources familiar with the matter,” adding that “no final decision has been made on whether or not to accept the funding”.

Want vs. Need

Does Box need the money? We might find out when it submits its first quarter updates to its pre-IPO documents.

At this point, though, we doubt Box has blown most of the money it raised earlier this year. Instead Levie might want to have a safe harbor so he doesn't have to take the company public until the market improves. (Though it has improved.)

But we question that theory. VC Ben Horowitz has apparently advised Levie that if you’re confident in what you’re bringing to market, the timing of the IPO isn’t as tight-roped as it might seem.

That being said, if there’s another GE-like deal on Box’s horizon, it might be well worth taking on more capital and waiting.

Needless to say, when we asked Box if there was any truth to the rumor, we got the same canned response it always offers.

"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 priority."

Heads-up: We have official Box-related news coming on Monday.