The secret sauce of Box is that we (handle) all security and requirements of managing data, but we deliver that to end-users in a very, very usable way which most of the traditional players aren't able to do," Box CEO Aaron Levie told Reuters.
The market for file storage and sharing is likely to grow by about 23 percent to $2.3 billion over the next five years, according to research firm IDC.
Box's revenue rose 80 percent to $153.8 million in the nine months ended Oct. 31, but it posted a net loss of $121.5 million, little changed from a year earlier.