THE NEWS WRAP: Online storage startup Box raises $150 million as it sizes up a float

Online storage startup Box has raised $150 million in funding from private equity firm TPG and hedge fund Coatue Management, according to the Wall Street Journal.

 

The funds buy the company some breathing room as it waits for a more suitable time to hold an initial public offering.

 

The company has already filed for an IPO and is expected to list by the end of the year.

 

Oculus announces Oculus Connect developer conference

 

The virtual reality startup announced it will be holding its first developer conference, Oculus Connect, in September.

 

The conference will give developers access to sessions with Oculus engineers and labs where they can get direct feedback, as well as hands-on time with their software and members of the Oculus team.

 

In addition, Oculus also announced the acquisition of middleware game-network technology provider RakNet.

 

Dropbox and MIT alums launch Inbox

 

Inbox, founded by a team featuring Dropbox and MIT alumni, launches today, hoping to power the next generation of email applications.

 

Inbox offers a more modern way to build apps that access end users’ inboxes and works with Gmail, Yahoo, Microsoft Exchange and other mail providers.

 

Overnight

 

The Dow Jones Industrial Average is down 44.05 to 17,024.21. The Australian dollar is currently trading at US94 cents.

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