All the sessions from Transform 2021 are available on-demand now. Watch now.
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.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more