Streem Acquirer Box Inc, goes public and shares pop 70%

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Last June, Box acquired Streem, a Socialatom Ventures’ portolio startup that allows customers to stream files to their desktop environments, a product that is now part of Box’s larger offerings:

Although questions had arisen about how Box’s initial public offering would fare, public investors gave the company a warm welcome on Friday, its first day of trading.

Shares in Box, the online file storage company, opened at $20.20 on Friday morning, 44 percent higher than its I.P.O. price of $14 a share.

The stock continued to surge to close the day at $23.23, up nearly 66 percent, giving the company a market value of $2.7 billion. At that level, the start-up has surpassed the $2.4 billion valuation that it fetched in its most recent private financing round last summer.

Full article on DealBook

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