![]() ![]() ![]() Additionally, the company’s focus on affordability and reliability could give it a competitive edge in the increasingly crowded cloud storage market. ![]() Backblaze is also well-positioned to benefit from the continued growth of the cloud storage market, which is expected to reach $390 billion by 2023. The company has stated that it plans to use the funds from the IPO to invest in product development, marketing, and potential acquisitions. Future Prospects:īackblaze’s IPO has positioned the company for further growth and expansion in the coming years. Backblaze’s strong financial performance has been driven by its focus on affordability and reliability and its unique approach to cloud backup. The company has also been profitable for several years, with a net income of $10.6 million in 2020. In 2020, Backblaze reported revenue of $103 million, up from $77 million in 2019. Financial Performance:īackblaze’s IPO comes after a period of sustained growth for the company. B2 Cloud Storage costs $0.005 per GB per month, with no additional charges for uploads, downloads, or API requests. Additionally, Backblaze offers B2 Cloud Storage, a low-cost storage service for developers, IT professionals, and businesses. Backblaze also offers a business backup service, which provides complete backup for all computers and servers in a company for $60 per year per computer. Its flagship product is Backblaze Personal Backup, which provides unlimited backup for a single computer for $6 per month or $60 per year. This approach has allowed Backblaze to offer faster backups and restores and higher levels of data durability and security.īackblaze offers cloud backup services for individuals, businesses, and enterprise customers. Backblaze has become well-known for its unique approach to cloud backup, which involves storing customer data on hard drives instead of traditional tape backups. The company’s headquarters are located in San Mateo, California, with over 500 employees. Background and History:īackblaze was founded in 2007 by Gleb Budman and Brian Wilson to provide affordable and reliable cloud backup services to individuals and businesses. In this article, Backblaze NASDAQ Thursday 100m IPO 650mnovetcnbc, we will look closer at Backblaze’s IPO and explore the company’s history, products, and prospects. Backblaze’s IPO was highly anticipated, and it received a warm welcome from investors, with the stock price rising by more than 10% on its first day of trading. The company was listed under the ticker symbol “BLZE,” Its shares were initially priced at $18 per share. On Thursday, November 9th, 2021, cloud backup provider Backblaze debuted on the NASDAQ stock exchange with an initial public offering (IPO) worth $100 million. ![]()
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