In subsequent years, Box invested heavily to move from product to platform. To prove it, the company has been buying back shares and, at its analyst day, increased its repurchase plan by $150 million over the next year. "Categorically, we believe we're undervalued," Levie said. Also on the list that year was Box rival Dropbox, which has struggled since its 2018 IPO and now has a market cap of under $9 billion. Airbnb is worth $106 billion, Shopify is at $83 billion, Square (now Block) is at $75 billion and Atlassian is worth $73 billion. ![]() Magazine put Levie on the cover as its entrepreneur of the year.Ĭompare that to some of the top names that joined Box on the first Disruptor 50 list. Venture investors valued the company at $2 billion in 2013, the year Inc. Its market cap today is just shy of $4 billion, up from about $1.7 billion at the time of its 2015 IPO. The stock rallied on March 17, after Box issued a forecast at its analyst day that called for fiscal 2025 revenue growth of 15% to 17%, alongside an operating margin of 25% to 28%.Īnalysts at JMP said in a report that the updated guidance "reflected the company's strong execution, leadership in a large market, and prospects for continued financial improvement."Įven with the recent momentum, this isn't where Levie thought he would be, given the hype around his company 10 years ago, when it was a scorching Silicon Valley start-up. Among the 76 companies in the Bessemer Venture Partners Cloud Index, Box is the fourth-best performer and one of only seven members that's up so far this year.īox shares have climbed over 5% this year through Wednesday's close, while the Nasdaq has dropped more than 11% over that stretch. The company recently surpassed its all-time high stock price from 2018, and Box has turned out to be a safe haven during the tech market's nosedive to start 2022. ![]() At long last, investors seem to be liking what they see. ![]() Levie kept his job, and an independent Box was ultimately victorious in its proxy fight with Starboard. In the decade since Box made CNBC's very first Disruptor 50 list, the company has reckoned with a delayed IPO to rightsize its economics, an extended stretch of stock underperformance and last year had to manage through a heated battle with activist investor Starboard Value, which was demanding the company either find a buyer or oust its CEO. Levie is also a seasoned vet when it comes to Wall Street drama, and he has the scars to prove it. Levie, despite his relative youth, is a grizzled veteran of cloud software, an industry that consisted of Salesforce and little else at the time Box was getting started. Far from its days as a fledgling dorm room start-up, Box now employs more than 2,100 people and generates close to $900 million in annual revenue.
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