It’s In The Box! Telstra Pumps $10m Into Cloud Co.
It is joining a number of other international companies including Telef?nica, Itochu, Macnica, DST Global, Coatue and Mitsui who between them are said to have invested US$100 million into Box.
Telstra Ventures MD Mark Sherman said the telco’s agreement with Box would enhance Telstra’s growing cloud business and drive more value from its core network. Telstra Ventures was founded in 2011 as a wholly-owned Telstra subsidiary.
“Customers are harnessing the power of cloud, social and mobility in their desire to increasingly collaborate not only within their own business, but also with vendors, business partners, investors and other third-party providers,” he said.
“In the past, the challenge was maintaining control of file access and user privileges through the collaboration process. With Box, we will have the tools to overcome those issues.”
Oddly there has been no mention of offering Box to Telstra’s much bigger consumer market, many of whom would currently use Dropbox.
Box’s CEO and co-founder Aaron Levie said the Telstra deal would be “critical to our entering new regions and cultivating our ability to connect with customers everywhere and helping them manage the once-in-a-generation transition to the cloud.”
Telstra said it expects to offer Box to its business and enterprise customers in “coming months”.