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Monday, March 10, 2014

Guy O and Ashton invest in Box

ON CLOUD NINE: U2 and Madonna manager Guy Oseary and actor Ashton Kutcher have, via their A-Grade Investments fund, put a pile of chips on Silicon Valley online-storage biz Box Inc., the L.A. Times reports. A-Grade's monetary infusion was part of a $100m funding round just completed by the tech outfit, a media-centric competitor to Dropbox, ahead of its planned IPO, slated for this spring. The company currently has a $2 billion valuation. Kutcher and Oseary believe their show-biz relationships will enable them to add to the starry roster of corporate clients that already includes Sony, CAA and Netflix (and some 97% of the Fortune 500). The cloud software is said to have been instrumental in Columbia's "sneak attack" release of Beyoncé's recent smash album. (3/10a)

 
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