{
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  "documentTitle": "Box, Inc. (BOX)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2021-08-06 00:00:00",
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  "pageNumber": 17,
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  "prevPage": 16,
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  "density": "dense",
  "nDataPoints": 13,
  "notes": "The chart uses a dashed green line to indicate the median multiple of 5.9x.",
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      "text": "Enterprise Value / CY2022E Revenue",
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      "text": "Enterprise Value / CY2022E Revenue: 4.0x",
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      "text": "Due to repeatedly missing commitments and a lack of credibility with investors, Box trades at a deep discount to its peers. We believe that with improved performance and execution, as well as better oversight and governance practices, Box has a significant opportunity for sustainable, long-term value creation.",
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      "kind": "source-note",
      "text": "Source: Capital IQ. Note: Peers listed above include all peers listed on page 12 of the Company's FY2021 amended 10-K, excluding Forescout Technologies and RealPage, which were acquired in August 2020 and April 2021, respectively. It also excludes Cloudera and Proofpoint, each of which recently announced a sale transaction. The full universe of potential Box peers is not listed here and the comparisons made herein may differ materially as a result.",
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      "text": "Box Trades at a Deep Discount to Its Peer Group",
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      "evidence": "The deck frames the issue as a David vs. Goliath story, highlighting the opportunity for Starboard to make a positive impact at Box.",
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