The company offers cloud services through a web-scale software infrastructure built on commodity hardware. The company has kept the IPO price between 15 and 17, and the final pricing will be announced next week. Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. (This story corrects second paragraph to remove "early" before next year. Backblaze hasn’t specified its IPO date yet, but its expected to list on Nov. Backblaze IPOd at 16 per share after taking in little funding and revenue for a cloud company. The company sells itself as an affordable cloud storage solution, competing with the Big Three. market for IPOs has been on a tear in 2020, fueled by a buoyant stock market, with more than $65 billion sold in stock, up almost 40% from the total for all of 2019. But unlike most cloud software startups, it got there without taking on the bonkers levels of venture capital that has become commonplace in the industry. The global market for cloud storage services is expected to grow from $50.1 billion this year to $137.3 billion by 2025, according to market research firm MarketsandMarkets. (Backblaze), a leading storage cloud platform, announced the pricing of its initial public offering of 6,250,000 shares of its Class A. The IPO plan coincides with the COVID-19 pandemic driving more businesses to operate digitally and rely on cloud computing for more of their workflow. Cloud data and backup specialist Backblaze wasnt the splashiest tech IPO of the year when it debuted on the Nasdaq on Nov. SAN MATEO, Calif.- ( BUSINESS WIRE )-Backblaze, Inc. Library of Congress, according to a 2011 McKinsey study. What really sets Backblaze apart and will potentially disrupt the industry are the company’s two main cloud services.Participation from Market Makers and ECNs is. In cloud storage, it competes with the likes of Inc's Amazon Web Services, although Backblaze targets smaller companies.īackblaze said earlier this year it now stores one exabyte of customer data, which is the equivalent of more than 4,000 times the information stored in the U.S. Cloud backup service Backblaze added 100M to its Nasdaq on Thursday, up 24 from its initial launch and 12 on Friday, after raising 100M in its IPO, giving it a market cap of 650M. Join Backblaze and phoenixNap for our Miami Beach Pub Crawl on Tuesday, May 23rd from. Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies, and has since expanded into offering cloud storage services which is now the fastest-growing part of its business. Director of Partnerships at Backblaze Cloud Storage & Backup.
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