![]() ![]() This will be Backblaze’s first time going public. Backblaze will raise $100 million in its IPO and could be valued at up to $650 million. The company will list on the Nasdaq under the ticker “BB” and price its shares at $10 each. The IPO will allow the company to raise more money to continue its operations and expand its business.īackblaze, an online backup service, is set to go public on Thursday. The backblaze nasdaq thursday 100m ipo 650mnovetcnbc is a great way to invest in the company. For the first six months of 2018, Backblaze reported revenue of $61.5 million and net income of $7.8 million. The company’s net income more than doubled to $10.8 million last year. Backblaze has been profitable since 2014 and generated $97 million in revenue in 2017. That represents a compound annual growth rate of 30%. According to research firm IDC, the global market for cloud storage is expected to grow from $24 billion in 2018 to $92 billion by 2023. The company’s main product is its “B2” cloud storage service, which competes with similar offerings from Amazon (AMZN), Microsoft (MSFT), and Google (GOOGL). ![]() Founded in 2007, Backblaze has become one of the leading providers of cloud-based backup and storage services. At the midpoint of that range, Backblaze would have a market value of about $4 billion. The company will list its shares on the Nasdaq under the ticker “BB” and is offering 35 million shares at a price range of $18 to $20 per share. 650mnovetcnbcīackblaze, a data storage company, is set to go public on Thursday with an initial public offering (IPO) that could raise up to $650 million. ![]() The IPO is being led by Goldman Sachs and J.P. However, the company’s CEO, Gleb Budman, said that they decided to go public in order to give employees and early investors an opportunity to cash out. This comes as a bit of a surprise because Backblaze was not planning to go public and had no intention of doing so. Backblaze has raised $100 million in funding and is valued at $650 million. The company will list on the Nasdaq under the ticker “BZUN”. I believe that the stock will be a great addition to any portfolio.īackblaze, an online backup service, is set to go public on Thursday. The company has a strong track record and is well-positioned for continued success. “In conclusion, backblaze nasdaq thursday 100m ipo 650mnovetcnbc is an excellent investment opportunity. The company provides cloud backup services for consumers and businesses. Backblaze was founded in 2007 and is headquartered in San Mateo, California. The offering is expected to close on Tuesday, October 2, 2018. Backblaze has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock at the IPO price. The company said it will offer 6.5 million shares of its common stock at a price of $15.00 per share. (Reuters) – Cloud storage provider Backblaze Inc filed for a U.S.Backblaze, an online backup service, announced on Thursday that it has priced its initial public offering at $100 million. The core platform of Backblaze's cloud services is the Backblaze Storage Cloud, and it keeps over 500 billion files available on demand. 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. Cloud-based storage space provider Backblaze, Inc. is looking to go public in the US stock markets as demand for cloud computing surged 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. 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 Amazon Web Services, although Backblaze targets smaller companies.Īccording to a report Impact-of-COVID-19-on-the-Market- 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. Investors may trade in the Pre-Market (4:00-9:30 a.m. ![]() The company will list its stock on the Nasdaq under the symbol “BLZE”, according to a filing. CLOUD BACKBLAZE NASDAQ IPO 650MNOVETCNBC SOFTWAREĮT) and the After Hours Market (4:00-8:00 p.m. ![]()
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