Cloud Computing: Box Faces Make-or-Break Moment
April 20, 2015
Grazed from NYTimes. Author: Quentin Hardy.
About 10 years ago, Aaron Levie dropped out of college to start a Silicon Valley company called Box. Before long, he was one of those young technology wizards of whom great things were expected. Mr. Levie faced hurdles and some fitful progress but ultimately reached the point many entrepreneurs only dream of: Box conducted an initial public offering in January, but had already raised more than $500 million privately.
It employs 1,200 people and is considered on the cutting edge of a new generation of companies that provide services to big business customers over cloud-computing systems. Now comes the hard part — survival. Box today is worth $2.1 billion, but losses are continuing to add up while revenue is not growing enough to suit Wall Street’s tastes…
The company’s shares are down 25 percent since it went public. And rival services from tech heavyweights like Amazon and Microsoft threaten Box’s business…
Read more from the source @ http://mobile.nytimes.com/2015/04/20/technology/box-provider-of-cloud-computing-services-faces-make-or-break-moment.html?_r=0