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Box, Inc.
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<h2 id="history">History</h2> <p>The idea for Box.com started in 2003 with <a href="/facts/Aaron_Levie/ygoBLyVW">Aaron Levie</a>, a business student at the <a href="/facts/University_of_Southern_California/N0v9R5gs">University of Southern California</a>.<a class="footnote-ref" id="fnref:1" href="#fn:1"><sup>1</sup></a> He wrote a paper on the industry for storing digital files online<a class="footnote-ref" id="fnref:2" href="#fn:2"><sup>2</sup></a> and started developing the Box service in 2004.<a class="footnote-ref" id="fnref:3" href="#fn:3"><sup>3</sup></a> In 2005, Levie dropped out of school to work on Box full-time with long-time friend and cofounder Dylan Smith.<a class="footnote-ref" id="fnref:4" href="#fn:4"><sup>4</sup></a><a class="footnote-ref" id="fnref:5" href="#fn:5"><sup>5</sup></a><a class="footnote-ref" id="fnref:6" href="#fn:6"><sup>6</sup></a> Initially, the software was developed in the attic of Smith's parents' house, then in a garage owned by Levie's uncle that had been converted into a living space.<a class="footnote-ref" id="fnref:7" href="#fn:7"><sup>7</sup></a> Levie and Smith were joined by cofounders Jeff Queisser and Sam Ghods.<a class="footnote-ref" id="fnref:8" href="#fn:8"><sup>8</sup></a> The founders relied on their own money as well as support from friends and family members until <a href="/facts/Mark_Cuban/qVs8reFb">Mark Cuban</a> invested $350,000 in seed funding in 2005.<a class="footnote-ref" id="fnref:9" href="#fn:9"><sup>9</sup></a> </p><p>The Box service was released in 2005.<a class="footnote-ref" id="fnref:10" href="#fn:10"><sup>10</sup></a><a class="footnote-ref" id="fnref:11" href="#fn:11"><sup>11</sup></a> In the first year after its release, the company's revenue was tens of thousands of dollars.<a class="footnote-ref" id="fnref:12" href="#fn:12"><sup>12</sup></a> It raised $1.5 million in series A funding in 2006 and $6 million in Series B funding in 2008.<a class="footnote-ref" id="fnref:13" href="#fn:13"><sup>13</sup></a> Box's revenues grew 500% from 2008 to 2009. By 2010, the company had raised $29.5 million in funding and the service had four million users.<a class="footnote-ref" id="fnref:14" href="#fn:14"><sup>14</sup></a> </p><p>Box was initially focused on consumers, but many of those consumers used the service at work. Box pivoted to focus on business users around 2009 and 2010.<a class="footnote-ref" id="fnref:15" href="#fn:15"><sup>15</sup></a><a class="footnote-ref" id="fnref:16" href="#fn:16"><sup>16</sup></a><a class="footnote-ref" id="fnref:17" href="#fn:17"><sup>17</sup></a> The company developed features to embed Box in common business applications or use APIs to integrate with them.<a class="footnote-ref" id="fnref:18" href="#fn:18"><sup>18</sup></a> In 2011, a reworked version of the Box service was released with technical improvements designed for handling large numbers of business users, changes to the user interface, and more collaboration features.<a class="footnote-ref" id="fnref:19" href="#fn:19"><sup>19</sup></a> The company started developing its first industry-specific features for heavily regulated industries in 2012, when it introduced tools for <a href="/facts/HIPAA/b40VtyEC">HIPAA</a> compliance at healthcare organizations.<a class="footnote-ref" id="fnref:20" href="#fn:20"><sup>20</sup></a> </p><p>Box also expanded internationally, with offices in <a href="/facts/London/KozCCsy9">London</a>, <a href="/facts/Berlin/pMTIRNXK">Berlin</a>, and <a href="/facts/Tokyo/GTvuw4ct">Tokyo</a>, among other locations.<a class="footnote-ref" id="fnref:21" href="#fn:21"><sup>21</sup></a><a class="footnote-ref" id="fnref:22" href="#fn:22"><sup>22</sup></a> In 2011, the company raised $48 million in funding to support its data centers.<a class="footnote-ref" id="fnref:23" href="#fn:23"><sup>23</sup></a> This was followed by an additional $125 million in funding round the next year,<a class="footnote-ref" id="fnref:24" href="#fn:24"><sup>24</sup></a> $100 million in 2013,<a class="footnote-ref" id="fnref:25" href="#fn:25"><sup>25</sup></a> and $150 million in 2014.<a class="footnote-ref" id="fnref:26" href="#fn:26"><sup>26</sup></a> </p><p>On January 23, 2015 Box became a <a href="/facts/Public_company/tnJQvSdR">public company</a> via an <a href="/facts/Initial_public_offering/2NntDhrG">initial public offering</a> on the <a href="/facts/New_York_Stock_Exchange/XgSV32lk">New York Stock Exchange</a>.<a class="footnote-ref" id="fnref:27" href="#fn:27"><sup>27</sup></a><a class="footnote-ref" id="fnref:28" href="#fn:28"><sup>28</sup></a> Box moved its headquarters to its current location in <a href="/facts/Redwood_City/tgxq3E29">Redwood City</a>, California in January 2016.<a class="footnote-ref" id="fnref:29" href="#fn:29"><sup>29</sup></a> In July 2018, Box acquired search engine company Butter.ai.<a class="footnote-ref" id="fnref:30" href="#fn:30"><sup>30</sup></a> In 2019, hedge fund <a href="/facts/Starboard_Value/bwr3vupE">Starboard Value</a> took a 7.5% stake in the company.<a class="footnote-ref" id="fnref:31" href="#fn:31"><sup>31</sup></a><a class="footnote-ref" id="fnref:32" href="#fn:32"><sup>32</sup></a> </p><p>In May 2020, Box announced a new version with improved integration with <a href="/facts/Videotelephony/Ya9TMFQD">videotelephony</a> software, as well as a feature called Collections that allows users to customize their personal folder structure due to the increase in <a href="/facts/Remote_work/yDcwVn1F">remote work</a> during the <a href="/facts/COVID-19_pandemic/0xTsh7Ut">COVID-19 pandemic</a>.<a class="footnote-ref" id="fnref:33" href="#fn:33"><sup>33</sup></a> </p><p>In April 2021, Box announced that it had accepted a $500 million investment from <a href="/facts/Kohlberg_Kravis_Roberts/YjhArDYo">KKR</a>, a private equity firm.<a class="footnote-ref" id="fnref:34" href="#fn:34"><sup>34</sup></a><a class="footnote-ref" id="fnref:35" href="#fn:35"><sup>35</sup></a> </p><p>In August 2024, Box and <a href="/facts/Slack_(software)/I51UWn6j">Slack</a> announced an expanded partnership that introduced secure AI capabilities to enterprise content management.<a class="footnote-ref" id="fnref:36" href="#fn:36"><sup>36</sup></a><a class="footnote-ref" id="fnref:37" href="#fn:37"><sup>37</sup></a> </p> <h2 id="acquisitions">Acquisitions</h2> <p>Box acquired Increo Solutions, which developed software for previewing and collaborating on digital files, in October 2009.<a class="footnote-ref" id="fnref:38" href="#fn:38"><sup>38</sup></a> </p><p>In 2013, the company acquired dLoop,<a class="footnote-ref" id="fnref:39" href="#fn:39"><sup>39</sup></a> Folder iOS, an application designed for storage, file management, and sharing,<a class="footnote-ref" id="fnref:40" href="#fn:40"><sup>40</sup></a> and Crocodoc.<a class="footnote-ref" id="fnref:41" href="#fn:41"><sup>41</sup></a> </p><p>In June 2014, the Y Combinator-backed company Streem was acquired for an undisclosed amount.<a class="footnote-ref" id="fnref:42" href="#fn:42"><sup>42</sup></a> Later that year in November, Box acquired MedXT, a medical software developer, for $3.84 million.<a class="footnote-ref" id="fnref:43" href="#fn:43"><sup>43</sup></a> </p><p>Verold, a cloud-based 3D model editor and viewer for the web and mobile devices, was acquired in 2015,<a class="footnote-ref" id="fnref:44" href="#fn:44"><sup>44</sup></a> along with Subspace, a company specializing in BYOD security for mobile devices,<a class="footnote-ref" id="fnref:45" href="#fn:45"><sup>45</sup></a> and AirPost, a startup that helps detect and manage cloud application usage.<a class="footnote-ref" id="fnref:46" href="#fn:46"><sup>46</sup></a> </p><p>The company acquired Wagon Analytics in August 2016.<a class="footnote-ref" id="fnref:47" href="#fn:47"><sup>47</sup></a> </p><p>Butter.ai, a search engine company,<a class="footnote-ref" id="fnref:48" href="#fn:48"><sup>48</sup></a> and Progressly<a class="footnote-ref" id="fnref:49" href="#fn:49"><sup>49</sup></a> were acquired in July 2018. </p><p>In February 2021, Box acquired Tervela for a reported $14.8 million<a class="footnote-ref" id="fnref:50" href="#fn:50"><sup>50</sup></a> and e-signature startup SignRequest for $55 million.<a class="footnote-ref" id="fnref:51" href="#fn:51"><sup>51</sup></a> </p><p>Box announced in January 2024 that it had acquired Crooze, a content management app maker, for an undisclosed amount.<a class="footnote-ref" id="fnref:52" href="#fn:52"><sup>52</sup></a> In August of that same year, the company announced it had acquired Alphamoon, a Polish-based startup specializing in intelligent document processing.<a class="footnote-ref" id="fnref:53" href="#fn:53"><sup>53</sup></a> </p> <h2 id="features">Features</h2> <p>Box.com is a cloud-based <a href="/facts/Content_management_system/CCk4vIxV">content management system</a> with collaboration, security, analytics and other features related to files and information.<a class="footnote-ref" id="fnref:54" href="#fn:54"><sup>54</sup></a><a class="footnote-ref" id="fnref:55" href="#fn:55"><sup>55</sup></a> There is a core Box service, then add-ons for different industries and situations.<a class="footnote-ref" id="fnref:56" href="#fn:56"><sup>56</sup></a><a class="footnote-ref" id="fnref:57" href="#fn:57"><sup>57</sup></a> Box is used to manage, share, and collaborate on digital files.<a class="footnote-ref" id="fnref:58" href="#fn:58"><sup>58</sup></a> As of 2017, there are about 41 million users,<a class="footnote-ref" id="fnref:59" href="#fn:59"><sup>59</sup></a> constituting 6.5% of the market for software that helps manage, share, and collaborate on digital files.<a class="footnote-ref" id="fnref:60" href="#fn:60"><sup>60</sup></a> </p><p>Box stores files in an online folder system that can be accessed from any device with an internet connection.<a class="footnote-ref" id="fnref:61" href="#fn:61"><sup>61</sup></a> Often, a copy of the files are also stored on the user's devices, then synchronized with the online version.<a class="footnote-ref" id="fnref:62" href="#fn:62"><sup>62</sup></a> Users can invite "collaborators" that can upload or modify files<a class="footnote-ref" id="fnref:63" href="#fn:63"><sup>63</sup></a> or the user can share specific files or folders.<a class="footnote-ref" id="fnref:64" href="#fn:64"><sup>64</sup></a> Users can also create certain files directly in Box.com and add comments or notes that are visible from the folder system.<a class="footnote-ref" id="fnref:65" href="#fn:65"><sup>65</sup></a> </p><p>Box began as a simple service for storing, sharing, and syncing files among different users and devices, but developed over time into an enterprise product with features for security and compliance.<a class="footnote-ref" id="fnref:66" href="#fn:66"><sup>66</sup></a><a class="footnote-ref" id="fnref:67" href="#fn:67"><sup>67</sup></a><a class="footnote-ref" id="fnref:68" href="#fn:68"><sup>68</sup></a> Files on Box are encrypted using <a href="/facts/Transport_Layer_Security/pGy16TnA">TLS encryption</a>.<a class="footnote-ref" id="fnref:69" href="#fn:69"><sup>69</sup></a> Each user has access to their own documents, as well as to corporate files that the IT department manages.<a class="footnote-ref" id="fnref:70" href="#fn:70"><sup>70</sup></a> IT staff can also set other access and security policies,<a class="footnote-ref" id="fnref:71" href="#fn:71"><sup>71</sup></a> get audit information like who accessed what files, and receive alerts for suspicious downloads.<a class="footnote-ref" id="fnref:72" href="#fn:72"><sup>72</sup></a> Box's open APIs allow it to integrate with common business applications.<a class="footnote-ref" id="fnref:73" href="#fn:73"><sup>73</sup></a><a class="footnote-ref" id="fnref:74" href="#fn:74"><sup>74</sup></a> For example, one integration allows users to save files to their Box.com folders directly from Microsoft applications.<a class="footnote-ref" id="fnref:75" href="#fn:75"><sup>75</sup></a> The company also provides consulting, support, and other services.<a class="footnote-ref" id="fnref:76" href="#fn:76"><sup>76</sup></a> </p><p>Box held its first annual conference, BoxWorks, in January 2010, initially under the name Altitude.<a class="footnote-ref" id="fnref:77" href="#fn:77"><sup>77</sup></a><a class="footnote-ref" id="fnref:78" href="#fn:78"><sup>78</sup></a> The first conference drew about 300 attendees, but grew to about 3,000 by 2013.<a class="footnote-ref" id="fnref:79" href="#fn:79"><sup>79</sup></a> </p> <h2 id="see-also">See also</h2> <ul><li><a href="/facts/Comparison_of_file_hosting_services/jTawuoLq">Comparison of file hosting services</a></li> <li><a href="/facts/Comparison_of_file_synchronization_software/ChgSQflv">Comparison of file synchronization software</a></li> <li><a href="/facts/Comparison_of_online_backup_services/jtHfHd31">Comparison of online backup services</a></li></ul> <h2 id="external-links">External links</h2> <ul><li><a href="http://www.box.com">Official website</a> </li> <li><a href="https://www.cnet.com/news/why-box-com-is-king-of-enterprise-cloud-storage/">Q&A Interview with Box CEO on CNET</a></li> <li>Business data for Box, Inc.: <ul><li><a href="https://www.google.com/finance/quote/BOX">Google</a></li><li><a href="https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1372612">SEC filings</a></li><li><a href="https://finance.yahoo.com/quote/BOX">Yahoo!</a></li></ul></li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>"Box: The smart person's guide". TechRepublic. March 15, 2017. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/box-the-smart-persons-guide/" target="_blank">https://www.techrepublic.com/article/box-the-smart-persons-guide/</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>Mazarakis, Anna; Shontell, Alyson. "'I was having nightmares for a few weeks': Box CEO Aaron Levie reveals how hard it was to build a $2.5 billion business and take it public by age 29". Business Insider. Retrieved September 21, 2017. <a href="http://www.businessinsider.com/aaron-levie-quit-college-to-found-box-now-25-billion-company-2017-7" target="_blank">http://www.businessinsider.com/aaron-levie-quit-college-to-found-box-now-25-billion-company-2017-7</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>Lynley, Matthew (September 29, 2011). "Box.net founder Aaron Levie is poised on the edge of startup stardom". VentureBeat. Retrieved July 17, 2021. <a href="https://venturebeat.com/2011/09/29/box-net-aaron-levie/" target="_blank">https://venturebeat.com/2011/09/29/box-net-aaron-levie/</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> <li id="fn:7"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></p></li> <li id="fn:8"><p>Mazarakis, Anna; Shontell, Alyson (July 18, 2017). "What it's like when someone offers you $600 million, and you say no". Business Insider. Retrieved August 6, 2021. <a href="https://www.businessinsider.com/what-its-like-to-turn-down-a-600-million-offer-box-ceo-aaron-levie-2017-7" target="_blank">https://www.businessinsider.com/what-its-like-to-turn-down-a-600-million-offer-box-ceo-aaron-levie-2017-7</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></p></li> <li id="fn:9"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:9" class="footnote-back-ref">↩</a></p></li> <li id="fn:10"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:10" class="footnote-back-ref">↩</a></p></li> <li id="fn:11"><p>"Box: The smart person's guide". TechRepublic. March 15, 2017. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/box-the-smart-persons-guide/" target="_blank">https://www.techrepublic.com/article/box-the-smart-persons-guide/</a> <a href="#fnref:11" class="footnote-back-ref">↩</a></p></li> <li id="fn:12"><p>Lynley, Matthew (September 29, 2011). "Box.net founder Aaron Levie is poised on the edge of startup stardom". VentureBeat. Retrieved July 17, 2021. <a href="https://venturebeat.com/2011/09/29/box-net-aaron-levie/" target="_blank">https://venturebeat.com/2011/09/29/box-net-aaron-levie/</a> <a href="#fnref:12" class="footnote-back-ref">↩</a></p></li> <li id="fn:13"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:13" class="footnote-back-ref">↩</a></p></li> <li id="fn:14"><p>Rao, Leena (April 7, 2010). "Box.net Raises $15 Million To Take On Microsoft SharePoint In The Cloud". TechCrunch. Retrieved July 17, 2021. <a href="https://techcrunch.com/2010/04/07/box-net-raises-15-million-to-take-on-microsoft-sharepoint-in-the-cloud/" target="_blank">https://techcrunch.com/2010/04/07/box-net-raises-15-million-to-take-on-microsoft-sharepoint-in-the-cloud/</a> <a href="#fnref:14" class="footnote-back-ref">↩</a></p></li> <li id="fn:15"><p>King, Rachel (March 6, 2014). "How Aaron Levie and his childhood friends built Box into a $2 billion business, without stabbing each other in the back". TechRepublic. Retrieved July 17, 2021. <a href="https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/" target="_blank">https://www.techrepublic.com/article/how-aaron-levie-and-his-childhood-friends-built-box-into-a-2-billion-business-without-stabbing-each-other-in-the-back/</a> <a href="#fnref:15" class="footnote-back-ref">↩</a></p></li> <li id="fn:16"><p>Lynley, Matthew (September 29, 2011). "Box.net founder Aaron Levie is poised on the edge of startup stardom". VentureBeat. Retrieved July 17, 2021. <a href="https://venturebeat.com/2011/09/29/box-net-aaron-levie/" target="_blank">https://venturebeat.com/2011/09/29/box-net-aaron-levie/</a> <a href="#fnref:16" class="footnote-back-ref">↩</a></p></li> <li id="fn:17"><p>Miller, Ron (January 22, 2015). "Box Has Always Been About Reshaping Enterprise Software – TechCrunch". TechCrunch. Retrieved July 18, 2021. <a href="https://techcrunch.com/2015/01/22/box-has-always-been-about-reshaping-enterprise-software/" target="_blank">https://techcrunch.com/2015/01/22/box-has-always-been-about-reshaping-enterprise-software/</a> <a href="#fnref:17" class="footnote-back-ref">↩</a></p></li> <li id="fn:18"><p>Miller, Ron (January 22, 2015). "Box Has Always Been About Reshaping Enterprise Software – TechCrunch". TechCrunch. 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