According to Backblaze’s website, B2 costs $0.005 per gigabyte of storage each month compared to $0.021 with AWS, $0.017 with Azure, and $0.020 with Google Cloud. Its B2 storage service is comparable to that of cloud giants, but is much cheaper. From B2 to IPOīackblaze sells itself as the affordable cloud storage alternative. And they each far surpassed Backblaze in revenue, reporting $318 million and $1 billion last year, respectively. Another competitor in the backup and storage space considering an IPO, Veeam, was funded to the tune of $500 million. So what’s the motivation for Backblaze going public now? “We’re actually hoping this shows that it is possible for companies to successfully become public companies without having to wait as long as some companies are feeling they need to wait today,” Gleb Budman, CEO and co-founder of Backblaze, told Insider.įor comparison, DigitalOcean, which offers cloud storage competitive to Backblaze’s B2 offering, raised $456.4 million before going public earlier this year. And regulatory filings show that last year, Backblaze booked a net loss of $6.6 million on revenues of $53.78 million - nothing to sneeze at, but it only represents a small piece of a market worth tens of billions. By the closing bell on Friday, Backblaze was trading at $22.04 a share, giving it aīetween its founding in 20, San Mateo, California-based Backblaze raised less than $3 million in outside equity, followed by $10 million in convertible notes in August.
Cloud backblaze thursday 100m ipo software#
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. Backblaze’s CEO says he wants to prove high revenue and VC backing aren’t needed to go public.Ĭloud backup and storage service Backblaze debuted on the Nasdaq exchange Thursday, priced at $16 per share and popping 24.38% by the end of the day.The company sells itself as an affordable cloud storage solution, competing with the Big Three.Backblaze IPO’d at $16 per share after taking in little funding and revenue for a cloud company.
0 kommentar(er)
