Box shares started trading today on the New York Stock Exchange, about ten months after the cloud storage and app company filed to go public. Shares rose 65% despite the company's non-existent profitability thanks to high sales and marketing costs.
Box closed the day valued at $2.8 billion.
But everyone was really happy about it! It's 2015's first big tech IPO. Also Box's co-founder and CEO Aaron Levie, who is Silicon-Valley-famous for his twitter quips, (sometimes) big hair, and colorful sneakers.
Levie has spent a lot of time at the head of growing, but still private company (Box was founded in 2005), which has won him a lot of goodwill among investors and other tech executives who've gone through the process.
Like Drew Houston, the CEO of Dropbox, the other hot storage startup with that has "Box" in its name.
And the head of the biggest and most profitable software company of all time, Satya Nadella. (Funny enough, some think Box will get acquired or crushed by Microsoft.)
Speaking of Microsoft's cloud and enterprise business, the head of if, Scott Guthrie, had an unflashy, utiltiarian congratulations.
Former Windows boss Steve Sinofsky spread the congratulations all around to the company's investors.
Zendesk CEO Mikkel Svane, whose company was the hottest enterprise software IPO of last year, wondered what took so long.
Anthony Noto has seen tech companies face the public market from every angle: he was Twitter's lead banker during its IPO and now serves as its CFO (he also was going to work for the hedge fund that owns a big chunk of Box but joined Twitter instead).
Congrats Aaron, your Box stake is worth about $95 million! Now you have to explain this to investors every 90 days!
Matthew Zeitlin is a business reporter for BuzzFeed News and is based in New York. Zeitlin reports on Wall Street and big banks.
Contact Matthew Zeitlin at email@example.com.
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