NEW YORK (TheStreet) -- Shares of Box (BOX - Get Report) continue to rise, up 0.34% to $23.31 in late morning trading Monday, after the online data storage provider rallied as high as 77% in its market debut last Friday.
Box's shares, which priced at $14 a piece, hit a high of $24.72 on the New York Stock Exchange in its first trading session, valuing the company at nearly $3 billion.
Los Altos, CA-based Box has about 32 million users, compared with about 300 million for privately held rival company Dropbox.
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Co-founder Aaron Levie plans to expand the business by specializing in specific areas such as healthcare and legal, according to CNNMoney.
Box is a provider of a cloud platform engaged in storing, sharing and managing various company files with services including secure file sharing, professional services and support, enterprise security and file synchronization.