Bringing Box to New Global Markets

Today, we're excited to announce new strategic partnerships and investments that will help move Box into the next phase of our international expansion. We've signed commercial agreements with Itochu Technology Ventures, Macnica and Mitsui to catalyze Box's entry in Japan. We're working with Telefónica Digital, the innovation arm of one of the largest telecom operators in Europe and Latin America, and Telstra, Australia's leading telecommunications and information services company. These partners, along with DST Global and Coatue, have invested $100M in Box to help bring our content collaboration platform to new markets.

At Box, one of our biggest strategic focuses is working to support and reach enterprises everywhere in the world. Today, the service is translated into 13 languages beyond English -- with many more to come -- and we're used by millions of individuals at businesses around the globe. In fact, users outside the US account for roughly 40% of our activity.

In 2012, we opened our first international office in London. Today, we have a team of 90 people throughout Europe bringing Box to customers like Schneider Electric, Gatwick Airport, and Hounslow Council, and working with partners like Deutsche Telekom and EE. Many other markets are also in the midst of this transition -- and in some cases, just beginning it. This is a once-in-a-generation technology shift and an amazing opportunity for Box to help businesses everywhere navigate it. We're excited to take what we've learned in the US and Europe and - combined with many insights from industry peers - apply it to new regions.

Next up is Japan. As evidenced by the dramatic growth of, Google Apps, and other cloud solutions in Japan ($3B will be spent on cloud solutions by 2017), there's an incredible wave of IT transformation occurring. To lead our effort in Japan, I'm happy to share that we've hired a phenomenal leader, Katsunori Furuichi, who was most recently the president and chief executive officer of Verisign Japan. Katsunori is going to be an amazing part of the Box family (we agree on everything except for music, apparently Blink 182 never got very big in Japan). And to help us bring Box to mid-sized and large enterprises next year, we'll be working with some of the biggest system integrators and trading companies in Japan, including Itochu, Macnica and Mitsui.

Similarly, Telefónica and Telstra will be instrumental in bringing Box to Latin America and Australia, respectively. These communications companies serve millions of individuals and businesses that are embracing the cloud and mobile, and we're eager to provide the platform where businesses in these regions manage information and collaboration. The opportunity in these regions is significant, and growing quickly: Gartner predicts that the cloud market in Australia will grow from $3.1B in 2013 to $4.7B in 2016, and in Latin America, from $3.8B this year to $8B in 2016 (Forecast: Public Cloud Services, Worldwide 2011-2017, 2Q13 Update).

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.