Individual investors can then participate in the IPO through their brokerages. 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. The founders of Backblaze established the company in 2007 and offered unlimited backup space for $5 per month. It has over 700,000 customers and stores over 50 petabytes of data. How will the funds be used?īackblaze will invest in infrastructure and growth funds raised from its Thursday IPO. 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. ![]() It is an impressive achievement for any business and particularly remarkable for start-ups like Cloud Backblaze Thursday 100M IPO 650MNovetCNBC. It shows that there is still plenty of room in the cloud storage sector, even as market veterans like Microsoft and Google dominate it. Backblaze has undoubtedly come a long way since its launch nine years ago. Backblaze said it plans to sell 6.25 million shares at between 15-17 (£11-£12.50) per share in its forthcoming initial public offering (IPO), according to new paperwork filed with the market regulator. 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.An array of hard drives – Photo: ShutterstockĬloud storage company Backblaze plans to list on the NASDAQ under the ticker BLZE, raising an initial amount of $100m (£75.5m), according to a recent filing.Īs the IPO paperwork is still at the preliminary stage, the figure of $100m is a placeholder amount that is likely to be revised as lead underwriters Oppenheimer & Co, William Blair and Raymond James get a better idea of investor demand and an eventual IPO price range and number of shares is set. Shares will trade on the Nasdaq under the 'BLZE' ticker. “Data is the digital world’s most precious resource. Welcome to my article on backblaze nasdaq thursday 100m ipo 650mnovetcnbc. Our mission is to make storing, using, and protecting that data astonishingly easy,” San Mateo, California-based Backblaze said in the preliminary IPO filing. ![]() ![]() Almost half a million customersįounded in 2007, Backblaze has almost 500,000 customers worldwide. ![]() Its Backblaze Storage Cloud service keeps over 500 billion files available on demand and is designed to store trillions more in the future. It has a global physical infrastructure of nearly 200,000 hard drives and one terabit per second of network capacity, across five data centres that are interconnected by private network infrastructure.
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