Box has reportedly filed for an IPO in secret

Box, the enterprise storage and collaboration company, has reportedly filed for an initial public offering of its stock. Quartz and the Wall Street Journal are reporting that the company has filed confidential paperwork to go public, under a provision of the JOBS Act that allows companies with less than $1 billion in annual revenue to prepare to go public in secret.

The nearly eight-year-old Box has raised more than $400 million and is valued at $2 billion. It began as a dorm-room project at USC for CEO Aaron Levie and his co-founder, Dylan Smith. Today the company says it is used by thousands of businesses, including 97 percent of the Fortune 500. Notably, Dropbox — which has more than 200 million users, and is valued at $10 billion — has recently begun a big push of its own into the enterprise market, setting up a battle between the companies over what may be the most lucrative part of the online storage market.

Box declined to comment on reports of its forthcoming IPO. “We have nothing to share at this time,” a spokeswoman told The Verge.