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Web storage provider Box unwraps IPO
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LOS ALTOS (AP) — Online storage provider Box is seeking to raise $250 million in an initial public offering that will become the latest test of investors’ interest in rapidly growing technology companies suffering huge losses while being led a precocious CEO. With Monday’s IPO filing, Box Inc. took the wraps off its finances for the first time since the Los Altos, Calif., company was founded nearly nine years ago by college dropout Aaron Levie and his friend, Dylan Smith. The documents showed Box has lost a total of $337 million since the end of 2011 alone, including a $169 million setback during its last fiscal year. Levie, 29, serves as Box’s CEO while Smith, 28, is the company’s chief financial officer.