Box looks to NYC for Expansion

Box, a file sharing platform based in Palo Alto, CA, is planning to expand to New York. It has already started gaining buzz in Gotham by sponsoring the NY Tech Day Fair and other events of its own.

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Box targets small-to-midsize businesses and has raised $162 million since it began in 2005. But with competitors such as Dropbox and Google Drive (launched last April 24), Box needs to step it up a notch and seems to be doing so by tapping the New York developer pool.

Box is exploring options to put up a New York office either in late 2012 or early 2013. Setting up in NYC would bring the company closer to customers in financial services, pharmaceuticals, media, and entertainment. 

The Big Apple is also the best place to expand with all the budding startups. “The war for talent is crazy out here [in Silicon Valley],” says Chris Yeh, Box’s vice president of platform. “If we can tap into new sources of talent in New York, that would be great.”

The company has its eyes on local innovators such as Producteev and Lua Technologies. Lua is used to schedule crews for entertainment and production companies.  “We have an entertainment launch coming up in the next few months. They fit into part of what we want to accomplish from a go-to-market point of view.” says Yeh.

“New York is primarily known for its consumer tech and media tech,” Levie says. “We want to put a spotlight on the development going on [in enterprise software] in New York. There is a lot.”

Source: Xconomy