NEW YORK (TheStreet) -- Shares of Box , the cloud-based online storage company, surged nearly 50% out of the gate on Friday after raising $175 million in its initial public offering, in one of the most highly anticipated tech offerings since Alibaba . Late Thursday, Box priced 12.5 million shares of Class A common stock at $14 a share, above the expected range of $11 and $13 a share. The Los Altos, Calif.-based company has more than 32 million registered users and 44,000 paying organizations -- "48% of Fortune 500 companies and more than 22% of Global 2000 companies," it said in its regulatory filing. Must Read: 10 Biggest Deals Involving Venture Capital-Backed Companies in 2014 Must Read: Box IPO Brings Hype, But Long-Term Growth Remains Challenged Box has granted the underwriters a 30-day option to purchase an additional 1.875 million shares. Morgan Stanley, Credit Suisse Securities and J.P. Morgan are acting as joint book-running managers for the offering. BMO Capital Markets Corp. Canaccord Genuity, Pacific Crest Securities, Raymond James & Associates and Wells Fargo Securities are acting as co-managers. Must Read: 11 Best Small-Cap Technology Stocks That Could Hit It Big in 2015
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