Box Tries a Little Repackaging

For better and for worse, Box is the No. 2 seller of file-sharing software to businesses—a crowded $892 million market where profit margins are slim. Although Box has exceeded analysts’ expectations for two quarters in a row and is on track for about $300 million in sales this year, it’s also projected to lose about $200 million, and its shares have fallen below January’s initial public offering price of $14. Most people use the free personal version of its software, which gives them 10 gigabytes of storage space, while the typical business user pays $15 a month for unlimited storage and extra features such as security reports and custom branding.