Box has seen its share price soar on the New York Stock Exchange, rising by as much as $7 per share in the first few minutes of trading to pass $20.
The rush suggests that investors are convinced by the firm's long-term financial prospects.
Box went public with an initial offering of 12.5 million shares that started at $14.
The price was higher than Box's previous IPO filing which had proposed $11 to $13 per share, giving the company a valuation of $1.5bn.
The extra $1 per share sees the valuation rise to around $1.7bn and will allow the cloud storage and collaboration company to raise $175m to support its growth strategy.
Box CEO Aaron Levie was upbeat on the move as part of the company's ongoing growth. "It’s an incredible time to be building an enterprise software company, and we couldn’t be more excited about Box's future," he said.
Raising the share price is an indication of the confidence Box has in its flotation goals, but it is still significantly short of the $2.4bn valuation of a $250m IPO in March 2014.
Box has been toying with an IPO for some time, but delayed its March float as technology shares were not sufficiently buoyant.
The company has been enjoying significant growth in revenues. The latest quarterly results showed revenue of $153m and 275,000 accounts.
However, Box has been a loss-making company since 2011 owing to the cost of the infrastructure needed to support cloud growth.
The firm has reduced those losses by $6m, but still reported a loss of $45m, which could be off-putting for cautious stock market investors.
Box will need to entice investors by demonstrating more reductions in losses while maintaining growth.
Raising the share price could also be risky, given how Facebook faced a difficult first day on the stock exchange when its share price dropped substantially owing to overpricing and scepticism about its revenue model.
However, it is worth remembering that Facebook's rocky start has been replaced by strong financial performance and soaring revenues of over $3bn.
A recent partnership between Box and Cisco indicates the firm's intention to push forward with content and collaboration cloud services.
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