Box Inc can compete with bigger rivals - Manhattan Venture Partners

BOX INC CAN COMPETE WITH BIGGER RIVALS - MANHATTAN VENTURE PARTNERS

Manhattan Venture Partners Managing Partner Max Wolff says online data storage provider Box Inc can compete with bigger rivals including Google Drive and Dropbox.
SHOWS: NEW YORK, USA (JANUARY 26, 2015) (REUTERS - ACCESS ALL)
1. MANHATTAN VENTURE PARTNERS, MANAGING PARTNER, MAX WOLFF, SAYING:
JOURNALIST ASKING MAX WOLFF: "Shares of online data storage centre Box rose as much as 77 percent at one point in their debut trading session, valuing the company at more than 2.5 billion dollars. Here with more is Max Wolff, he is managing partner at Manhattan Venture Partners. So great to have you."
WOLFF: "Oh it's my pleasure, thanks for having me."
JOURNALIST: "So why is this deal so hot?"
WOLFF: "Well there is a lot of reasons here, one is that the company actually was going at an even higher price for a while on the private market, had to reset to a lower IPO price, indicated a range of 11 to 13 dollars and then it was a really small float. So, a lot of buzz, a lot of turmoil, it is an exciting space, the company has showed very good growth recently and they only really let the market at a very small amount of the company, about 10 percent. So we are seeing churning, a lot of chasing a few shares and that has really pushed them up here on the first day."
JOURNALIST: "So a lot of this is trading. How is the actual company as a business?"
WOLFF: "So it is a very good business. It has done well; it is not as young as people think. So it is about 10 years old as a business and obviously that is not old on a greater scheme but for a Silicon Valley tech company, 10 years old is not a super sort of infant story in terms of rapid growth. And it is a company doing a pivot right now which is always tricky, but interesting. So they kind of were a storage and sync company, like a Dropbox or an Evernote or Google Drive or OneDrive that folks are familiar with and they have become a little bit more of an enterprise collaboration story. They were enterprise facing, they have done very...