Nearly a year after Box originally filed for IPO and multiple years of prepping for the event, it finally began life as a public company on Friday.
Box priced its stock at $14 a share on Thursday night, raising $175 million from the public offering and valuing the cloud storage company at about $1.6 billion. The stock, trading under the ticker $BOX, opened at $20.20 a share on Friday, up more than 40% over its IPO price, giving the company a market cap of about $2.5 billion.
The public offering, a culmination of more than a decade of scrapping and fending off competitors large and small, had been repeatedly delayed last year amid a pullback in the market and concerns about companies focused on the cloud in particular Read more...
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