We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Register today!
Cloud file sharing company Box started its new chapter as a publicly traded entity today with a bang, closing out at $23.23, up 15 percent from $20.20, where it debuted this morning, and up more than 65 percent from the $14 per share price that Box set yesterday.
Bloomberg pegged Box’s valuation at roughly $2.7 billion.
Box raised $175 million in the initial public offering (IPO).
Box’s first-day performance falls right in line with recent successful IPOs from New Relic and Hortonworks.
And the news bodes well for other privately held file-sharing companies.
Even so, some have argued that a pop like those Box, New Relic, and others have picked up lately might look good to the public but might not necessarily be in a company’s best interests.
Nevertheless, several people watching the IPO were expecting a reasonable pop, and that’s precisely how things turned out.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.