Box.net overhauls content management app's user interface

"Within small and mid-size businesses, Box.net is in any case positioned against SharePoint in many instances. In the functional areas of collaboration, social and basic content management services they go head to head," Koplowitz said.

However, Box.net has a harder time competing for clients that need the broader capabilities that SharePoint provides, like search, more advanced content management, business intelligence and application development, he said.

In 2010, Box.net grew its staff from 65 to 125 employees, and achieved a 99.98 per cent uptime for its application, which is being used currently in 73 per cent of Fortune 500 companies, Levie said. Enterprise clients include T-Mobile and Discovery Networks.