Box, the once little start-up that could has finally gone public. Known to many as the enterprise alternative to DropBox, Box is a cloud sharing company that is built primarily for businesses.
Box, the company which has been poised to go public since the beginning of last year has finally crossed the threshold from a privately held company to a public one. With the recent IPO, the company has successfully raised over $170 million dollars in order to further boost their operations.
Box, which was started by two college students, Aaron Levie and Dylan Smith in 2005, is the first high profile public offering of 2015.
The company opened its stock prices at $20.20 hoping to raise $250, but it topped at $170 million. Still quite a sizable sum to take on the likes of Google, Amazon, Dropbox and Microsoft.
Though there is heavy competition in the cloud service space, according to Box’s founder, Aaron Levie, Box is looking to separate itself from the pack by specializing in healthcare and legal.
Even though the company has yet to post a profitable merger, investors are jumping all on the Box stock, with the closing price of Box weighing in at 66% above the IPO price.
It remains to be seen if Box can win in war that is being wagered between Google, Amazon, Dropbox and others. At the end of the day, consumers are winning on the ridiculous low prices that companies are charging. Add in the face that consumer aren’t afraid to jump ship to a new company to gain better perks is scary when thinking of the end goal of Box.