- #CLOUD BACKBLAZE THURSDAY IPO 650MNOVETCNBC HOW TO#
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initial public offering (IPO) on Monday, cashing in on growing demand for cloud computing from businesses expanding their digital offerings during the COVID-19 pandemic. Reuters reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around $1 billion.
#CLOUD BACKBLAZE THURSDAY IPO 650MNOVETCNBC SOFTWARE#
San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. #CLOUD BACKBLAZE NASDAQ IPO 650MNOVETCNBC SOFTWARE# It has since expanded into cloud storage, with over half a million overall customers across more than 175 countries. In the cloud storage space, it competes with the likes of Inc's (AMZN.O) Amazon Web Services, although Backblaze targets smaller companies.Īccording to a report by Research and Markets, the global market for cloud computing services is projected to reach a revised size of $937.5 billion by 2027, growing at a compound annual rate of 17% over the seven years since 2020. Oppenheimer & Co, William Blair and Raymond James are the lead underwriters on Backblaze's offering.
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You will need to pick a subdomain on the domain you own and point it to your server. Reporting by Noor Zainab Hussain in Bengaluru Editing by Devika Syamnath The company will list its stock on the Nasdaq under the symbol "BLZE", according to a filing. Open the necessary ports in the server/cloud providers firewall.
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#CLOUD BACKBLAZE THURSDAY IPO 650MNOVETCNBC HOW TO#
The public can expect the company to continue its steady growth and provide a stable investment opportunity.Īlso, Read How To Pick Out The Perfect T-Shirt For Every Occasion. With its unique storage pods and cost-effective solution, Backblaze Thursday 100m IPO 650mnovetcnbc has differentiated itself from other cloud storage providers and has built a loyal customer base. In conclusion, Backblaze’s IPO is a significant event in the tech industry and is a testament to the company’s innovative approach to cloud storage. This is a positive sign for investors and shows the company’s financial stability. It is worth noting that this IPO is unique in that Backblaze is a profitable company, unlike many other tech startups that go public with a significant amount of losses. Shares Offered - Backblaze is looking to sell 6,250,000 shares. The company plans to use the proceeds from the IPO to invest in research and development, as well as to expand its offerings to new markets. Backblaze IPO Pricing - Backblaze expects to price its shares between 15.00 and 17.00 per share. IPO Detailsīackblaze has announced its intention to go public with an IPO of 100 million dollars, with a valuation of 650 million dollars.
The company has also been successful in differentiating itself from other cloud storage providers by offering a more cost-effective and scalable solution. The company’s net loss was $14.9 million in 2020, a slight improvement from the $16.5 million loss in 2019.ĭespite the losses, Backblaze has seen steady growth in recent years and has a loyal customer base. This approach has allowed the company to offer its services at a fraction of the cost of traditional cloud storage providers.Īccording to CNBC, Backblaze generated revenue of $169.7 million in 2020, an increase of 17% from the previous year. 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. Reuters reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around 1 billion. This article will delve into the details of the company, its background, and what the public can expect from its upcoming IPO. Backblaze, a cloud backup and storage company, went public on Friday with an initial public offering (IPO) that raised 650 million. Backblaze was founded in 2007 and is headquartered in San Mateo, California. The company has gained a lot of attention due to its innovative approach to cloud storage, making it accessible and affordable for everyone. The company said it plans to raise up to 650 million in its initial public offering. 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.
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