Securities and Exchange Commission (SEC). The company plans to list its shares on the NASDAQ exchange under the ticker symbol “BLZE.” Backblaze seeks to raise $100 million through the IPO, which could value the company at around $650 million. In this article, Backblaze NASDAQ 100m ipo 650mnovetcnbc we will delve into the details of the Backblaze IPO, its business model, financials, and the potential risks and opportunities for investors.
Overview of Backblazeīackblaze is a cloud storage and data management company that provides online backup, file-sharing, and cloud storage services to businesses and individual customers. The company was founded in 2007 by Gleb Budman and Brian Wilson and has since become a significant player in the cloud storage industry. Backblaze operates data centers in the United States and Europe and has over 500,000 customers in over 150 countries.īackblaze’s business model is based on offering its customers affordable, scalable, and reliable cloud storage services. The company’s flagship product is Backblaze Cloud Backup, a backup and restores service that allows users to store their data securely in the cloud. Backblaze also offers B2 Cloud Storage, a scalable, cost-effective, and reliable cloud storage service for businesses and developers. The company’s revenue is generated through subscription fees and pay-as-you-go pricing for its cloud storage services. FinancialsĪccording to the company’s SEC filing, Backblaze generated $163.2 million in 2020, up from $111.4 million in 2019, representing a year-over-year growth rate of 47%. However, the company is not yet profitable, with a net loss of $28.5 million in 2020, up from $11.9 million in 2019. Backblaze ( BLZE) will have a total of about 29.3M Class A and B shares outstanding going forward.one vote for Class A shares, giving insiders about 97 of BLZE’s voting power. Backblaze’s gross profit margin was 62% in 2020, up from 60% in 2019. The company also has Class B shares for executives and pre-IPO investors.BLZE also granted underwriters the option to buy 937,500 extra Class A shares for overallotments. The company had $39.4 million in cash and cash equivalents as of December 31, 2020. Potential risks and opportunities for investors Like any other investment, investing in Backblaze carries risks and opportunities. One of the critical risks for investors is the competitive landscape of the cloud storage industry. Backblaze competes with major players like Amazon Web Services, Microsoft Azure, and Google Cloud. (Nasdaq: BLZE), today announced that Christoper (Chris) Opat has joined the company as Senior Vice President of Cloud Operations overseeing the strategy and. 15, 2023 (GLOBE NEWSWIRE) - Backblaze, Inc. These companies have much larger resources, brand recognition, and customer bases than Backblaze, which could make it difficult for the company to compete effectively. Industry leader joins company to further drive strategy and growth for the leading specialized cloud storage platformSAN MATEO, Calif., Aug. On the other hand, Backblaze has several factors that could make it an attractive investment opportunity. First, the company’s impressive revenue growth rate indicates a strong demand for its services.
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