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. This trend was highlighted on Thursday, when Backblaze, a leader in cloud storage solutions, announced it had received a major investment from NASDAQ.
As the cloud storage market continues to expand, businesses are increasingly turning to cloud-based solutions to meet their storage needs. is looking to go public in the US stock markets as demand for cloud computing surged during the COVID-19 pandemic. BACKBLAZE THURSDAY FRIDAY 100M IPO 650MNOVETCNBC. Its Backblaze Storage Cloud service keeps over 500 billion files available on demand and is designed to store trillions more in the future. Cloud-based storage space provider Backblaze, Inc. Almost half a million customersįounded in 2007, Backblaze has almost 500,000 customers worldwide. BLZE shot up to as high as a 22.25 intraday, up 39.1 from the stock’s 16-a. Backblaze (NASDAQ: BLZE) soared nearly 40 intraday Thursday in its first trading session following an IPO that valued the cloud-storage firm at just under 500M. The firm’s initial public offering raised 100M by selling some 6.3M Class A shares at the midpoint of their expected 15-17/share range.Shares later pulled back, but still ended the day ahead 24.4 at 19.90. Our mission is to make storing, using, and protecting that data astonishingly easy,” San Mateo, California-based Backblaze said in the preliminary IPO filing. Backblaze nasdaq friday ipo 650mnovetcnbc. “Data is the digital world’s most precious resource.
Seeking Alpha’s Donovan Jones lays out a bullish thesis for the stock here.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. 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. BLZE’s pre-IPO investors include London-listed financial firm TMT Investments, which owns about 25% of the company. 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. Backblaze stock is up 24 on Wednesday and another 12 on Friday, bringing the share price to 22.31 and giving the business a market valuation of over 650 million. The New York Times’ Wirecutter review site recently lauded BLZE as “the easiest to use and the best cloud backup service for most people.” This company is expected to post quarterly loss of 0.29 per share in its upcoming report, which represents a year-over-year change of +29.3. Backblaze Raised Just 100 Million in its IPO, less than one-twentieth of what firms like Global Foundries, Robinhood, and Bumble received in the year. The company’s subscription-based products compete with larger rivals like the S3 service from Amazon (NASDAQ: AMZN), Azure from Microsoft (NASDAQ: MSFT) and Google Cloud from Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). BLZE offers cloud-based computer storage and backup services to both businesses and consumers. is an American cloud storage and data backup company based in San Mateo, California. Thursday’s rally boosted that up to about $582.5M. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. Backblaze ( BLZE) will have a total of about 29.3M Class A and B shares outstanding going forward. one vote for Class A shares, giving insiders about 97% of BLZE’s voting power. 
The company also has Class B shares for executives and pre-IPO investors.BLZE also granted underwriters the option to buy 937,500 extra Class A shares for overallotments.
The firm’s initial public offering raised $100M by selling some 6.3M Class A shares at the midpoint of their expected $15-$17/share range.Shares later pulled back, but still ended the day ahead 24.4% at $19.90. BLZE shot up to as high as a $22.25 intraday, up 39.1% from the stock’s $16-a-share IPO price.Backblaze (NASDAQ: BLZE) soared nearly 40% intraday Thursday in its first trading session following an IPO that valued the cloud-storage firm at just under $500M.
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