The company has a unique approach to data storage, using its proprietary storage pods, which are made up of off-the-shelf components, to provide a cost-effective and scalable solution for cloud storage.
Today, Backblaze has over 100,000 customers and provides a secure and reliable solution for data storage and backup. Over the years, the company has expanded its offerings to include cloud storage and personal backup solutions, as well as enterprise storage solutions. Background of Backblazeīackblaze was founded in 2007 by Gleb Budman and Brian Wilson with the goal of providing unlimited online backup for just $5 per month. This article will delve into the details of the company, its background, and what the public can expect from its upcoming IPO. The company has gained a lot of attention due to its innovative approach to cloud storage, making it accessible and affordable for everyone. We wish them many more successes going forward!Īlso, Read an Interview with SkySilk CEO on Parler’s Exit from Amazon: An Allyn-PR Perspective.Backblaze Thursday 100m IPO 650mnovetcnbc, a cloud storage company, announced its plan to go public on Thursday with an initial public offering (IPO) of 100 million dollars. Backblaze has undoubtedly come a long way since its launch nine years ago. It shows that there is still plenty of room in the cloud storage sector, even as market veterans like Microsoft and Google dominate it. It is an impressive achievement for any business and particularly remarkable for start-ups like Cloud Backblaze Thursday 100M IPO 650MNovetCNBC. The company has a relatively small market share compared to its competitors, so it may be difficult for Backblaze to scale up and become a significant player in the cloud storage industry.Ĭloud storage provider Backblaze’s Thursday 100M IPO was a huge success, with the company raising 650 million.The company relies heavily on Amazon Web Services (AWS) for its infrastructure, so if AWS were to experience an outage or suffer another significant issue, Backblaze could be negatively affected.The company is yet to be profitable, so there is no guarantee that it will ever become profitable.Investing in Backblaze comes with a few potential risks:
What risks come with investing in Backblaze? Additionally, Backblaze will finance future acquisitions and expand the business into new markets with the funds. How will the funds be used?īackblaze will invest in infrastructure and growth funds raised from its Thursday IPO. It has over 700,000 customers and stores over 50 petabytes of data. The founders of Backblaze established the company in 2007 and offered unlimited backup space for $5 per month. How much did Backblaze raise in their IPO?Īccording to CNBC, cloud storage company Cloud Backblaze Thursday 100M IPO 650MNovetCNBC raised $150 million in its IPO on Thursday, pricing its shares at $23 each.Īpproximately $1.3 billion is the company’s value. Individual investors can then participate in the IPO through their brokerages. Institutional investors line up, then the IPO prices, and allocate the allocations.The investment bank(s) then “sell” the IPO to institutional investors such as mutual funds and hedge funds.
The investment bank(s) then work with the company to determine the best price and timing for the IPO.The company hires an investment bank or bank to underwrite the IPO.Companies often raise capital through IPOs for expansion, acquisitions, or other purposes.Ī typical IPO involves the following steps: What is an IPO?Īn initial public offering (IPO) is the process of selling shares of a privately held company to the public for the first time. With Cloud Backblaze Thursday 100M IPO 650MNovetCNBC, you can restore your data anytime from any device. Backblaze provides safe and secure storage for files of any size and type in the cloud. What risks come with investing in Backblaze?īackblaze is a cloud backup service offering unlimited data backup space.
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