Box, the cloud company that helps corporations store, manage and share their information, is still losing money since floating an IPO on the New York Stock Exchange earlier this year, and that’s not likely to change anytime soon.
In an interview with Walt Mossberg at last week’s Code/Enterprise Series: San Francisco, CEO Aaron Levie pledged that the company will over time become more efficient as revenue grows, but for now marketing and research spending are still considered high priorities.
Meanwhile, there’s still a lot of room for Box to grow. It is selling its services to scores of companies in specialized industries like insurance, media and health care.
As serious as he is about the nature of his business, Levie is also known for his impeccable comedic timing, especially onstage, where he told Mossberg that he got into the cloud storage business “because I need more competition.” (He really doesn’t, in case that wasn’t clear.)
Here’s the full video of the conversation.
This article originally appeared on Recode.net.