Not having a 'scalable' business model (or having to prove that the model is indeed scalable) hasn't deterred other companies from going public and having an awesome final exist (from Investors' perspective).
Example: Successfactors.
Here is the excerpt of their S-1 from IPO and their last 10-K as an independent company:
http://mark.ly/KgA6PO/
The point being that as long as Box's bankers can convince the investment managers that there is an eventual buyer, box will have a decently oversubscribed order book at IPO. Of-course roadshow can't and won't mention this.
Here is the excerpt of their S-1 from IPO and their last 10-K as an independent company: http://mark.ly/KgA6PO/
The point being that as long as Box's bankers can convince the investment managers that there is an eventual buyer, box will have a decently oversubscribed order book at IPO. Of-course roadshow can't and won't mention this.