Sep
06
2019
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Top VCs on the changing landscape for enterprise startups

Yesterday at TechCrunch’s Enterprise event in San Francisco, we sat down with three venture capitalists who spend a lot of their time thinking about enterprise startups. We wanted to ask what trends they are seeing, what concerns they might have about the state of the market and, of course, how startups might persuade them to write out a check.

We covered a lot of ground with the investors — Jason Green of Emergence Capital, Rebecca Lynn of Canvas Ventures and Maha Ibrahim of Canaan Partners — who told us, among other things, that startups shouldn’t expect a big M&A event right now, that there’s no first-mover advantage in the enterprise realm and why grit may be the quality that ends up keeping a startup afloat.

On the growth of enterprise startups:

Jason Green: When we started Emergence 15 years ago, we saw maybe a few hundred startups a year, and we funded about five or six. Today, we see over 1,000 a year; we probably do deep diligence on 25.

Sep
03
2019
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Starboard Value takes 7.5% stake in Box

Starboard Value, LP revealed in an SEC Form 13D filing last week that it owns a 7.5% stake in Box, the cloud content management company.

It is probably not a coincidence that Starboard Value looks for undervalued stocks. Box stock has been on a price roller coaster ride since it went public in 2015 at a price of $14.00 per share before surging to $23.23 per share. It had high share price of $28.12 in May 2018, but the price dipped into the teens in March and was at $14.85 as we went to press. It has a 52-week low price of $12.46 per share.

Screenshot 2019 09 03 17.22.05

 

The company, which began life as a consumer storage company, made the transition to enterprise software several years after it launched in 2005. It raised more than $500 million along the way, and was a Silicon Valley SaaS darling until it filed its S-1 in 2014.

The S-1 revealed massive sales and marketing spending, and critics came down hard on the company. That led to one of the longest IPO delays in memory, taking nine months from the time the company filed until it finally had its IPO in January 2015.

In its most recent earnings report last week, Box announced  $172.5 million in revenue for the quarter, putting it on a run rate close to $700 million.

Aaron Levie href=”https://techcrunch.com/2019/07/08/box-ceo-aaron-levie-is-coming-to-tc-sessions-enterprise/”> will be appearing at TechCrunch Sessions: Enterprise on Thursday.

We emailed both Starboard Value and Box for comments, but neither has responded as we went to publish. If this changes, we will update the article.

Aug
14
2019
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Every TC Sessions: Enterprise 2019 ticket includes a free pass to Disrupt SF

Shout out to all the savvy enterprise software startuppers. Here’s a quick, two-part money-saving reminder. Part one: TC Sessions: Enterprise 2019 is right around the corner on September 5, and you have only two days left to buy an early-bird ticket and save yourself $100. Part two: for every Session ticket you buy, you get one free Expo-only pass to TechCrunch Disrupt SF 2019.

Save money and increase your ROI by completing one simple task: buy your early-bird ticket today.

About 1,000 members of enterprise software’s powerhouse community will join us for a full day dedicated to exploring the current and future state of enterprise software. It’s certainly tech’s 800-pound gorilla — a $500 billion industry. Some of the biggest names and brightest minds will be on hand to discuss critical issues all players face — from early-stage startups to multinational conglomerates.

The day’s agenda features panel discussions, main-stage talks, break-out sessions and speaker Q&As on hot topics including intelligent marketing automation, the cloud, data security, AI and quantum computing, just to name a few. You’ll hear from people like SAP CEO Bill McDermott; Aaron Levie, Box co-founder; Jim Clarke, director of Quantum Hardware at Intel and many, many more.

Customer experience is always a hot topic, so be sure to catch this main-stage panel discussion with Amit Ahuja (Adobe), Julie Larson-Green (Qualtrics) and Peter Reinhardt (Segment):

The Trials and Tribulations of Experience Management: As companies gather more data about their customers and employees, it should theoretically improve their experience, but myriad challenges face companies as they try to pull together information from a variety of vendors across disparate systems, both in the cloud and on prem. How do you pull together a coherent picture of your customers, while respecting their privacy and overcoming the technical challenges?

TC Sessions: Enterprise 2019 takes place in San Francisco on September 5. Take advantage of this two-part money-saving opportunity. Buy your early-bird ticket by August 16 at 11:59 p.m. (PT) to save $100. And score a free Expo-only pass to TechCrunch Disrupt SF 2019 for every ticket you buy. We can’t wait to see you in September!

Interested in sponsoring TC Sessions: Enterprise? Fill out this form and a member of our sales team will contact you.

Aug
09
2019
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Adobe’s Amit Ahuja will be talking customer experience at TechCrunch Sessions: Enterprise

As companies collect increasingly large amounts of data about customers, the end game is about improving the customer experience. It’s a term we’re hearing a lot of these days, and we are going to be discussing that very topic with Amit Ahuja, Adobe’s vice president of ecosystem development, next month at TechCrunch Sessions: Enterprise in San Francisco. Grab your early-bird tickets right now — $100 savings ends today!

Customer experience covers a broad array of enterprise software and includes data collection, analytics and software. Adobe deals with all of this, including the Adobe Experience Platform for data collection, Adobe Analytics for visualization and understanding and Adobe Experience Cloud for building applications.

The idea is to begin to build an understanding of your customers through the various interactions you have with them, and then build applications to give them a positive experience. There is a lot of talk about “delighting” customers, but it’s really about using the digital realm to help them achieve what they want as efficiently as possible, whatever that means to your business.

Ahuja will be joining TechCrunch’s editors, along with Qualtrics chief experience officer Julie Larson-Green and Segment CEO Peter Reinhardt to discuss the finer points of what it means to build a customer experience, and how software can help drive that.

Ahuja has been with Adobe since 2005 when he joined as part of the $3.4 billion Macromedia acquisition. His primary role today involves building and managing strategic partnerships and initiatives. Prior to this, he was the head of Emerging Businesses and the GM of Adobe’s Data Management Platform business, which focuses on advertisers. He also spent seven years in Adobe’s Corporate Development Group, where he helped complete the acquisitions of Omniture, Scene7, Efficient Frontier, Demdex and Auditude.

Amit will be joining us on September 5 in San Francisco, along with some of the biggest influencers in enterprise, including Bill McDermott from SAP, Scott Farquhar from Atlassian, Aparna Sinha from Google, Wendy Nather from Duo Security, Aaron Levie from Box and Andrew Ng from Landing AI.

Early-bird savings end today, August 9. Book your tickets today and you’ll save $100 before prices go up.

Bringing a group? Book our 4+ group tickets and you’ll save 20% on the early-bird rate. Bring the whole squad here.

Aug
05
2019
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Four days left for early-bird tickets to TC Sessions: Enterprise 2019

We’re just one month away from TC Sessions: Enterprise, which takes place on September 5 at the Yerba Buena Center in San Francisco. But you have only four days left to score an early-bird ticket and save yourself $100. Right now, you pay $249, but once the clock strikes 11:59 p.m. (PT) on August 9, the bird flies south and the price flies north. Get your early-bird ticket today and save.

Focused on the current and future state of enterprise software, this day-long conference offers tremendous value — even at full price. Considering the rate at which this $500 billion industry acquires startups — and how quickly it’s evolving — TC Sessions: Enterprise makes perfect sense for enterprise-minded founders, investors, CTOs, CIOs, engineers and MBA students (student tickets cost $75).

We’ve packed the conference with interviews, panel discussions, Q&As and breakout sessions. TechCrunch editors will dig deep to separate hype from reality as they explore crucial issues, complex technologies and investment trends with both industry giants and up-and-coming startups.

Here’s a sample of just some of what we have planned. You can also check out the agenda — and we might add a few surprises along the way.

Curious about the latest in enterprise investment? TechCrunch editor Connie Loizos will interview VCs Jason Green, founder and general partner at Emergence; Maha Ibrahim, general partner at Canaan Partners; and Rebecca Lynn, co-founder and general partner at Canvas Ventures. They’ll examine trends in early-stage enterprise investments and discuss different sectors and companies that have their attention.

Maybe you want to learn from a founder who’s been there and done that. Don’t miss Aaron Levie, Box co-founder, chairman and CEO, as he outlines what it took to travel the entire startup journey. He’ll also offer his take on the future of data platforms.

Want to cover more ground at TC Sessions: Enterprise? Take advantage of our group discount and bring the whole team. Buy four or more tickets at once and save 20%. Don’t forget: For every ticket you buy to TC Sessions: Enterprise, we’ll register you for a free Expo Only pass to TechCrunch Disrupt SF on October 2-4.

TC Sessions: Enterprise takes place on September 5, but your chance to save $100 ends in just four short days. Don’t wait — buy an early-bird ticket today, and we’ll see you in September!

Is your company interested in sponsoring or exhibiting at TC Sessions: Enterprise? Contact our sponsorship sales team by filling out this form.

Jul
23
2019
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Buy a demo table at TC Sessions: Enterprise 2019

Early-stage enterprise startup founders listen up. That sound you hear is opportunity knocking. Answer the call, open the door and join us for TC Sessions: Enterprise on September 5 in San Francisco. Our day-long conference not only explores the promises and challenges of this $500 billion market, it also provides an opportunity for unparalleled exposure.

How’s that? Buy a Startup Demo Package and showcase your genius to more than 1,000 of the most influential enterprise founders, investors, movers and shakers. This event features the enterprise software world’s heaviest hitters. People like SAP CEO Bill McDermott; Aaron Levie, Box co-founder, chairman and CEO; and George Brady, executive VP in charge of technology operations at Capital One.

Demo tables are reserved for startups with less than $3 million, cost $2,000 and include four tickets to the event. We have a limited number of demo tables available, so don’t wait to introduce your startup to this very targeted audience.

The entire day is a full-on deep dive into the big challenges, hot topics and potential promise facing enterprise companies today. Forget the hype. TechCrunch editors will interview founders and leaders — established and emerging — on topics ranging from intelligent marketing automation and the cloud to machine learning and AI. You’ll hear from VCs about where they’re directing their enterprise investments.

Speaking of investors and hot topics, Jocelyn Goldfein, a managing director at Zetta Venture Partners, will join TechCrunch editors and other panelists for a discussion about the growing role of AI in enterprise software.

Check out our growing (and amazing, if we do say so ourselves) roster of speakers.

Our early-bird pricing is still in play, which means tickets cost $249 and students pay only $75. Plus, for every TC Sessions: Enterprise ticket you buy, we’ll register you for a complimentary Expo Only pass to TechCrunch Disrupt SF on October 2-4.

TC Sessions: Enterprise takes place September 5 at San Francisco’s Yerba Buena Center for the Arts. Buy a Startup Demo Package, open the door to opportunity and place your early-stage enterprise startup directly in the path of influential enterprise software founders, investors and technologists.

Looking for sponsorship opportunities? Contact our TechCrunch team to learn about the benefits associated with sponsoring TC Sessions: Enterprise 2019.

Jul
22
2019
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Announcing the agenda for TC Sessions: Enterprise | San Francisco, September 5

TechCrunch Sessions is back! On September 5, we’re taking on the ferociously competitive field of enterprise software, and thrilled to announce our packed agenda, overflowing with some of the biggest names and most exciting startups in the enterprise industry. And you’re in luck, because $249 early-bird tickets are still on sale — make sure you book yours so you can enjoy all the agenda has to offer.

Throughout the day, you can expect to hear from industry experts and partake in discussions about the potential of new technologies like quantum computing and AI, how to deal with the onslaught of security threats, investing in early-stage startups and plenty more

We’ll be joined by some of the biggest names and the smartest and most prescient people in the industry, including Bill McDermott at SAP, Scott Farquhar at Atlassian, Julie Larson-Green at Qualtrics, Wendy Nather at Duo Security, Aaron Levie at Box and Andrew Ng at Landing AI.

Our agenda showcases some of the powerhouses in the space, but also plenty of smaller teams that are building and debunking fundamental technologies in the industry. We still have a few tricks up our sleeves and will be adding some new names to the agenda over the next month, so keep your eyes open. In the meantime, check out these agenda highlights:

AGENDA

Investing with an Eye to the Future
Jason Green (Emergence Capital), Maha Ibrahim (Canaan Partners) and Rebecca Lynn (Canvas Ventures)
9:35 AM – 10:00 AM

In an ever-changing technological landscape, it’s not easy for VCs to know what’s coming next and how to place their bets. Yet, it’s the job of investors to peer around the corner and find the next big thing, whether that’s in AI, serverless, blockchain, edge computing or other emerging technologies. Our panel will look at the challenges of enterprise investing, what they look for in enterprise startups and how they decide where to put their money.


Talking Shop
Scott Farquhar (Atlassian)
10:00 AM – 10:20 AM

With tools like Jira, Bitbucket and Confluence, few companies influence how developers work as much as Atlassian. The company’s co-founder and co-CEO Scott Farquhar will join us to talk about growing his company, how it is bringing its tools to enterprises and what the future of software development in and for the enterprise will look like.


Q&A with Investors 
10:20 AM – 10:50 AM

Your chance to ask questions of some of the greatest investors in enterprise.


Innovation Break: Deliver Innovation to the Enterprise
DJ Paoni (
SAP), Sanjay Poonen (VMware) and Shruti Tournatory (Sapphire Ventures)
10:20 AM – 10:40 AM

For startups, the appeal of enterprise clients is not surprising — signing even one or two customers can make an entire business, and it can take just a few hundred to build a $1 billion unicorn company. But while corporate counterparts increasingly look to the startup community for partnership opportunities, making the jump to enterprise sales is far more complicated than scaling up the strategy startups already use to sell to SMBs or consumers. Hear from leaders who have experienced successes and pitfalls through the process as they address how startups can adapt their strategy with the needs of the enterprise in mind. Sponsored by SAP.


Coming Soon!
10:40 AM – 11:00 AM


Box’s Enterprise Journey
Aaron Levie (Box)
11:15 AM – 11:35 AM

Box started life as a consumer file-storage company and transformed early on into a successful enterprise SaaS company, focused on content management in the cloud. Levie will talk about what it’s like to travel the entire startup journey — and what the future holds for data platforms.


Bringing the Cloud to the Enterprise
George Brady (Capital One), Byron Deeter (Bessemer Venture Partners) and a speaker to be announced
11:35 AM – 12:00 PM

Cloud computing may now seem like the default, but that’s far from true for most enterprises, which often still have tons of legacy software that runs in their own data centers. What does it mean to be all-in on the cloud, which is what Capital One recently accomplished. We’ll talk about how companies can make the move to the cloud easier, what not to do and how to develop a cloud strategy with an eye to the future.


Keeping the Enterprise Secure
Martin Casado (Andreessen Horowitz), Wendy Nather (Duo Security) and a speaker to be announced
1:00 PM – 1:25 PM

Enterprises face a litany of threats from both inside and outside the firewall. Now more than ever, companies — especially startups — have to put security first. From preventing data from leaking to keeping bad actors out of your network, enterprises have it tough. How can you secure the enterprise without slowing growth? We’ll discuss the role of a modern CSO and how to move fast… without breaking things.


Keeping an Enterprise Behemoth on Course
Bill McDermott (SAP)

1:25 PM – 1:45 PM

With over $166 billion is market cap, Germany-based SAP is one of the most valuable tech companies in the world today. Bill McDermott took the leadership in 2014, becoming the first American to hold this position. Since then, he has quickly grown the company, in part thanks to a number of $1 billion-plus acquisitions. We’ll talk to him about his approach to these acquisitions, his strategy for growing the company in a quickly changing market and the state of enterprise software in general.


How Kubernetes Changed Everything
Brendan Burns (Microsoft), Tim Hockin (Google Cloud), Craig McLuckie (VMware)
and Aparna Sinha (Google)
1:45 PM – 2:15 PM

You can’t go to an enterprise conference and not talk about Kubernetes, the incredibly popular open-source container orchestration project that was incubated at Google. For this panel, we brought together three of the founding members of the Kubernetes team and the current director of product management for the project at Google to talk about the past, present and future of the project and how it has changed how enterprises think about moving to the cloud and developing software.


Innovation Break: Data: Who Owns It
(SAP)

2:15 PM – 2:35 PM

Enterprises have historically competed by being closed entities, keeping a closed architecture and innovating internally. When applying this closed approach to the hottest new commodity, data, it simply does not work anymore. But as enterprises, startups and public institutions open themselves up, how open is too open? Hear from leaders who explore data ownership and the questions that need to be answered before the data floodgates are opened. Sponsored by SAP.


AI Stakes its Place in the Enterprise
Bindu Reddy (Reality Engines), Jocelyn Goldfein (Zetta Venture Partners)
and a speaker to be announced
2:35 PM – 3:00 PM

AI is becoming table stakes for enterprise software as companies increasingly build AI into their tools to help process data faster or make more efficient use of resources. Our panel will talk about the growing role of AI in enterprise for companies big and small.


Q&A with Founders
3:00 PM – 3:30 PM

Your chance to ask questions of some of the greatest startup minds in enterprise technology.


The Trials and Tribulations of Experience Management
Julie Larson-Green (Qualtrics), Peter Reinhardt (Segment) and a speaker to be announced
3:15 PM – 3:40 PM

As companies gather more data about their customers, it should theoretically improve the customer experience, buy myriad challenges face companies as they try to pull together information from a variety of vendors across disparate systems, both in the cloud and on prem. How do you pull together a coherent picture of your customers, while respecting their privacy and overcoming the technical challenges? We’ll ask a team of experts to find out.


Innovation Break: Identifying Overhyped Technology Trends
James Allworth (
Cloudflare), George Mathew (Kespry) and Max Wessel (SAP)
3:40 PM – 4:00 PM

For innovation-focused businesses, deciding which technology trends are worth immediate investment, which trends are worth keeping on the radar and which are simply buzzworthy can be a challenging gray area to navigate and may ultimately make or break the future of a business. Hear from these innovation juggernauts as they provide their divergent perspectives on today’s hottest trends, including Blockchain, 5G, AI, VR and more. Sponsored by SAP.


Fireside Chat
Andrew Ng (Landing AI)
4:00 PM – 4:20 PM

Few technologists have been more central to the development of AI in the enterprise than Andrew Ng . With Landing AI and the backing of many top venture firms, Ng has the foundation to develop and launch the AI companies he thinks will be winners. We will talk about where Ng expects to see AI’s biggest impacts across the enterprise.


The Quantum Enterprise
Jim Clarke (Intel), Jay Gambetta (IBM)
and Krysta Svore (Microsoft)
4:20 PM – 4:45 PM

While we’re still a few years away from having quantum computers that will fulfill the full promise of this technology, many companies are already starting to experiment with what’s available today. We’ll talk about what startups and enterprises should know about quantum computing today to prepare for tomorrow.


Overcoming the Data Glut
Benoit Dageville (Snowflake), Ali Ghodsi (Databricks) and a speaker to be announced
4:45 PM – 5:10 PM

There is certainly no shortage of data in the enterprise these days. The question is how do you process it and put it in shape to understand it and make better decisions? Our panel will discuss the challenges of data management and visualization in a shifting technological landscape where the term “big data” doesn’t begin to do the growing volume justice.


Early-bird tickets are on sale now for just $249. That’s a $100 savings before prices go up — book yours today.

Students, save big with our super discounted $75 ticket when you book here.

Are you a startup? Book a demo table package for just $2,000 (includes 4 tickets) — book here.

Jul
15
2019
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48-hour, buy-one-get-one free — TC Sessions: Enterprise 2019

Every startupper we’ve ever met loves a great deal, and so do we. That’s why we’re celebrating Prime day with a 48-hour flash sale on tickets to TC Sessions: Enterprise 2019, which takes place September 5 at the Yerba Buena Center for the Arts in San Francisco.

We’re talking a classic BOGO — buy-one-get-one — deal that starts today and ends tomorrow, July 16, at 11:59 p.m. (PT). Buy one early-bird ticket ($249) and you get a second ticket for free. But this BOGO goes bye-bye in just 48 hours, so don’t wait. Buy your TC Sessions: Enterprise tickets now and save.

Get ready to join more than 1,000 attendees for a day-long, intensive experience exploring the enterprise colossus — a tech category that generates hundreds of new startups, along with a steady stream of multibillion-dollar acquisitions, every year.

What can you expect at TC Sessions: Enterprise? For starters, you’ll hear TechCrunch editors interview enterprise software leaders, including tech titans, rising founders and boundary-breaking VCs.

One such titan, George Brady — Capital One’s executive VP in charge of tech operations — will join us to discuss how the financial institution left legacy hardware and software behind to embrace the cloud. Quite a journey in such a highly regulated industry.

Our growing speaker roster features other enterprise heavy-hitters, including Aaron Levie, Box co-founder and CEO; Aparna Sinha, Google’s director of product management for Kubernetes and Anthos; Jim Clarke, Intel’s director of quantum hardware; and Scott Farquhar, co-founder and co-CEO of Atlassian.

Looking for in-depth information on technical enterprise topics? You’ll find them in our workshops and breakout sessions. Check out the exhibiting early-stage enterprise startups focused on disrupting, well, everything. Enjoy receptions and world-class networking with other founders, investors and technologists actively building the next generation of enterprise services.

TC Sessions: Enterprise 2019 takes place September 5, and we pack a lot of value into a single day. Double your ROI and take advantage of our 48-hour BOGO sale. Buy your ticket before July 16 at 11:59 p.m. (PT) and get another ticket free. That’s two tickets for one early-bird price. And if that’s not enough value, get this: we’ll register you for a free Expo-only pass to Disrupt SF 2019 for every TC Sessions: Enterprise ticket you purchase (mic drop).

Interested in sponsoring TC Sessions: Enterprise? Fill out this form and a member of our sales team will contact you.

Jul
08
2019
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Box CEO Aaron Levie is coming to TC Sessions: Enterprise

Box co-founder, chairman and CEO Aaron Levie took his company from a consumer-oriented online storage service to a publicly traded enterprise powerhouse. Launched in 2005, Box today has more than 41 million users, and the vast majority of Fortune 500 companies use its service. Levie will join us at TC Sessions: Enterprise for a fireside chat about the past, present and future of Box, as well as the overall state of the SaaS and cloud space.

Levie, who also occasionally contributes to TechCrunch, was a bit of a serial entrepreneur before he even got to college. Once he got to the University of Southern California, the idea for Box was born. In hindsight, it was obviously the right idea at the right time, but its early iterations focused more on consumers than business users. Like so many other startups, though, the Box team quickly realized that in order to actually make money, selling to the enterprise was the most logical — and profitable — option.

Before going public, Box raised well over $500 million from some of the most world’s most prestigious venture capital firms. Box’s market cap today is just under $2.5 billion, but more than four years after going public, the company, like many Silicon Valley unicorns both private and public, still regularly loses money. 

Early-Bird Tickets are on sale today for just $249 — book here before prices go up by $100!

Feb
27
2019
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Box fourth quarter revenue up 20 percent, but stock down 22 percent after hours

By most common sense measurements, Box had a pretty good earnings report today, reporting revenue up 20 percent year over year to $163.7 million. That doesn’t sound bad, yet Wall Street was not happy with the stock getting whacked, down more than 22 percent after hours as we went to press. It appears investors were unhappy with the company’s guidance.

Part of the problem, says Alan Pelz-Sharpe, principal analyst at Deep Analysis, a firm that watches the content management space, is that the company failed to hit its projections, combined with weaker guidance; a tough combination, but he points out the future does look bright for the company.

Box did miss its estimates and got dinged pretty hard today; however, the bigger picture is still of solid growth. As Box moves more and more into the enterprise space, the deal cycle takes longer to close and I think that has played a large part in this shift. The onus is on Box to close those bigger deals over the next couple of quarters, but if it does, then that will be a real warning shot to the legacy enterprise vendors as Box starts taking a chunk out of their addressable market,” Pelz-Sharpe told TechCrunch.

This fits with what company CEO Aaron Levie was saying. “Wall Street did have higher expectations with our revenue guidance for next year, and I think that’s totally fair, but we’re very focused as a company right now on driving reacceleration in our growth rate and the way that we’re going to do that is by really bringing the full suite of Box’s capabilities to more of our customers,” Levie told TechCrunch.

Holger Mueller, an analyst with Constellation Research says failing to hit guidance is always going to hurt a company with Wall Street. “It’s all about hitting the guidance, and Box struggled with this. At the end of the day, investors don’t care for the reasons, but making the number is what matters. But a booming economy and the push to AI will help Box as enterprises need document automation solutions,” Mueller said.

On the positive side, Levie pointed out that the company achieved positive non-GAAP growth rate for the first time in its 14-year history, with projections for the first full year of non-GAAP profitability for FY20 that it just kicked off.

The company was showing losses on a cost per share of 14 cents a share for the most recent quarter, but even that was a smaller loss than the 24 cents a share from the previous fiscal year. It would seem that the revenue is heading generally in the correct direction, but Wall Street did not see it that way, flogging the cloud content management company.

Chart: Box

Wall Street tends to try to project future performance. What a company has done this quarter is not as important to investors, who are apparently not happy with the projections, but Levie pointed out the opportunity here is huge. “We’re going after 40 plus billion dollar market, so if you think about the entirety of spend on content management, collaboration, storage infrastructure — as all of that moves to the cloud, we see that as the full market opportunity that we’re going out and serving,” Levie explained.

Pelz-Sharpe also thinks Wall Street could be missing the longer-range picture here. “The move to true enterprise started a couple of years back at Box, but it has taken time to bring on the right partners and infrastructure to deal with these bigger and more complex migrations and implementations,” Pelz-Sharpe explained. Should that happen, Box could begin capturing much larger chunks of that $40 billion addressable cloud content management market, and the numbers could ultimately be much more to investor’s liking. For now though, they are clearly not happy with what they are seeing.

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