It has been a couple of days now and everyone seems to be piling on Box about its S1 filing. Many (myself included) have been waiting for this to post to get an inside look into the freemium-based business model that Box is depending on to propel business revenue and a peek at just how successful the company has been in getting business users to climb aboard. The burn rate of this model is high, and seeing losses of $168 million against revenue of $124 million, it is easy to point fingers and call it questionable. But can this model work? Yes, over time and with the right investments. It is important to understand what is behind these numbers and what Box can do to drive revenue up and costs down.