IPO Party

IPO Party

Box CEO Shows Up On Quora To Appease Troll

Box CEO and co-founder Aaron Levie. (photo: Getty Images)

Cloud storage company Box is headed toward an IPO, and everyone got their first look at their S-1 filing last week. The prognosis is simple: Box has about another year left on its cash reserves, and going public is their best shot at floating a few extra years while they’re in the red.

And of course, as haters are wont to do, one curious Quora user took the opportunity to take shots at Box CEO Aaron Levie. Read More

IPO Party

Shutterstock, New York City’s First Tech IPO in Years, Goes Swimmingly


Mr. Oringer (Photo: Twitter)

Yesterday was the first IPO of a New York-based tech company since May’s Facebook fiasco. In fact, it was the first IPO of a New York-based tech company since 2010, says Bloomberg News. Stepping up to try her luck: stock photo marketplace Shutterstock, which debuted on the New York Stock Exchange under the ticker SSTK. Jitters notwithstanding, things seem to have gone respectably well.

Businessweek reports that the company sold 4.5 million shares at $17 a pop, giving the company a market cap of $558.3 million, and they closed up 27 percent, at $21.66.

When Betabeat spoke to founder and CEO Jon Oringer, he sounded pleased as punch. “Everyone at Shutterstock is very excited. I’m excited. It all worked out great,” he said.

In its nine-year history, Shutterstock has sold a whopping 250 million images. Last year it made $120 million in revenue and paid out $30 million to its 35,000 contributors. The company, which has 250 employees, now sells two images every second.  Read More