Box, the company that offers businesses easy-to-use cloud-based storage, went public today on Wall Street. The company is valued at $1.7 billion. Individuals are use the service too but, according to Time, about 99 percent of Box’s 32 million users are employees from Fortune 500 companies in healthcare, law, retail and media industries.
Box’s competitors include Amazon Web Services, Google Drive, Apple’s iCloud and Dropbox. Apple CEO Tim Cook tweeted to 30-year-old Box CEO Aaron Levie, “Congratulations to @levie and the Box team on their IPO and for creating a great company!” Box doesn’t yet make a profit.
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