Headquartered in Redwood City, CA, Box, Inc. was incorporated in 2015. The company is a provider of a cloud content management platform. The platform enables internal and external collaboration on content, automation of content-driven business processes, development of custom applications, data protection, security and compliance features.
It serves advertising, construction, consumer packaged goods, education, energy, financial services and insurance, government, healthcare and life sciences, high tech, legal, manufacturing, media and entertainment as well as the retail industry.
Other than the U.S, the company operates in the U.K. France, Germany, Japan, Canada, Australia, Netherlands and Sweden.
Box currently derives revenues from subscription, sale of premier support package and professional services.
Subscription revenues include subscription fees that customers pay against usage of the company’s cloud computing platform and routine support services. Revenues from professional services are derived from implementing best practice use cases, project management and implementation, consulting services.
In fiscal 2021, Box reported revenues of $770.8 million, an increase of 11% from fiscal 2020.
The competitive environment for Box is gradually improving. The smaller players which have no differentiating features or bigger companies that see little reason to expand are exciting this EFSS industry.
However, the enterprise file storage and collaboration space is already crowded with many competitors. Box’s closest competitor, Dropbox, which is more than twice Box's size is now going after the Enterprise market, Box's sweet spot, should be a concern. Also, larger vendors like Microsoft and Google, are catching up and giving their products away free as part of their productivity suites.