Cloud-Computing Giant Box To Stay In Silicon Valley: Report

REDWOOD CITY, CA — Box, the Redwood City-based cloud content management and file sharing service, plans to stay at its Silicon Valley headquarters despite the “absolutely insane” cost of living, CEO Aaron Levie said at a tech conference on Tuesday.

In comments at the Collision tech conference reported by TechRepublic, Levie said that Box hopes to “get the best of both worlds” of hiring talent remotely from around the world but also remaining in Silicon Valley.

Box's headquarters are located on Jefferson Avenue in downtown Redwood City.

Two weeks ago, Box announced a $500 million investment by the investment firm KKR, quelling rumors of an acquisition and seeing its shares fall by more than 9 percent, according to CNBC. Box shares are still up 31 percent since the beginning of 2020, with the pandemic-induced increase in remote work accelerating the need for cloud-computing services.

Levie expected the industry to continue to thrive this year.

"It's a very busy and dynamic landscape, and it further reinforces [the need for] having a neutral platform,'' Levie said, via TechRepublic. "You want to know your data is stored in one place and will be able to work across your entire tech stack."