Telstra invests to bring Box to Australia

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Telstra invests to bring Box to Australia

Dropbox rival targeted at business market.

Telstra has invested into Dropbox competitor Box as part of a plan to bring the secure file-sharing service to Australian enterprise customers.

The telco is one of five investors to contribute to a US$100 million ($110 million) funding round that values Box overall at around US$2 billion, according to a report by the Wall Street Journal.

A Telstra spokesman declined to comment on the size of the funding injection made by Telstra Ventures. It is understood to be around $10 million.

Telstra talked up the value a local Box offering would bring to the enterprise and government markets, particularly in managing the process of collaboration between multiple parties.

The telco plans to offer Box to enterprise and business customers "in the coming months".

"This strategic relationship with Telstra is critical to our entering new regions," Box CEO Aaron Levie said. The company is expected to open an Australian office sometime in 2014.

Box presently has about 180,000 business customers. In addition to expanding into Australia, the company is also plotting its entry into Japan and Brazil, the WSJ reported.

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