Aaron Levie finally admits it — the timing for Box’s IPO filing was bad.
“What is obvious is that we should not have filed when we did,” he told Bloomberg West’s Emily Chang. And though he points to the “bit of market correction” that was happening with SaaS and other high growth tech stocks at the time as the reason, he seems to have sobered up a bit about his company’s “horrid financials” and the fact that he’s had to “deal with a lot of distraction because of the filing.”
Hats off to Levie for stepping up to the plate and dealing with the market on the market’s terms. It’s one of the first times we’ve seen him put aside his charm and sense of humor to show that he can trudge a rocky path and not just a yellow brick road.