Company bets $48M on

February 24, 2011 8:50:53 AM PST
Some technology-savvy venture capitalists are making a big bet on a promising Internet company run by a 26-year-old college dropout in Palo Alto, Calif. Only this time, the object of their financial affection isn't Facebook and its CEO, Mark Zuckerberg. It's, a provider of online storage lockers for personal and corporate information. The company is getting $48 million from a group of investors and financiers, including two of Facebook's major shareholders: VC firms Meritech Capital and Andreessen Horowitz. Box is based in Palo Alto like Facebook. Its CEO, Aaron Levie, is 26 years old like Zuckerberg, who dropped out of Harvard University in 2004 to focus on building Facebook. Levie also dropped out of his college, the University of Southern California, to think outside of the box with Box.

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