BACKBLAZE IPO SOFTWARE

Riley Securities are the joint bookrunners on the deal. Oppenheimer & Co., William Blair, Raymond James, JMP Securities, and B. It plans to list on the Nasdaq under the symbol BLZE.

The company has attracted over 480,000 customers, who use its Backblaze Storage Cloud platform across more than 175 countries on its approximately 2 exabytes, or 2 trillion megabytes, of data storage under management.īackblaze was founded in 2007 and booked $60 million in revenue for the 12 months ended June 30, 2021.

BACKBLAZE IPO SOFTWARE

It provides these cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware. The company is valued at under 1 billion even after its IPO pop.

With just 16 million in revenue, Backblaze is smaller than. Backblaze went public this week after generating just 16 million in revenue in the second quarter. At the midpoint of the proposed range, Backblaze would command a fully diluted market value of $644 million.īackblaze states that it is a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data. Backblaze takes opposite IPO route to Rivian, going public on small valuation and minimal funding. The San Mateo, CA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. We’re looking forward to helping you store and use your data with astonishing ease now and for whatever comes next.Backblaze, which provides cloud storage for consumers and SMBs, announced terms for its IPO on Tuesday. If you’d like to share your thoughts, we’d love to hear from you in the comments section below. The only thing that’s changing today is we now have a more robust structure and additional funding to deliver on these values for more customers and partners. We are the ‘good guys,’ and we act like it.” We want to be honest and up front with our customers as to what we can and cannot do, and we want to be paid only the money honestly owed to us, and never engage in sleazy or misleading business practices where customers are misled in any way or pay for a service they do not receive. “At Backblaze, we want to provide a quality product for a fair price. As a reminder, here’s the core of the values that we’ve been committed to since our founding (as written by Brian Wilson, Co-founder and CTO): We’re still guided by the same principles and the same team. I want to emphasize that while we’ll be doing “more” for you, today’s events don’t mean that we’re “different” on any fundamental level. My short answer is: It means more of the good things you’ve come to expect from us at Backblaze. (Is that you? We’re hiring!) And Most Importantly, What Does It Mean for You? With these proceeds, we plan to continue to significantly grow our team, and are looking for many more kind, smart, talented people to join us. Today, we take the next big step in being the leading independent cloud for data storage.Īdditionally, while we help about 500,000 customers already, we plan to expand our sales and marketing efforts to bring Backblaze to more businesses, developers, and individuals that would benefit from easy and affordable data storage that they can trust.įinally, we have built Backblaze with not only a focus on the products we provide, but with a deep care for what it is like to work here. The future is being built on independent cloud platforms, and ours has been 14 years in the making. It means we have more resources with IPO proceeds to increase investment in the development of our Storage Cloud platform and the B2 Cloud Storage and Computer Backup services that run on it. What Does Becoming a Public Company Mean for Backblaze? We really appreciate you working with us and supporting us.

Whether you have believed in us from the beginning and have been a customer for over a decade, or joined us yesterday whether you entrust us to back up a single computer or to run your entire company’s infrastructure on the Backblaze Storage Cloud whether you’ve partnered with us to bring our services to one individual or thousands of companies, whether you’re a first-time visitor to our site or you’ve been a reader all along: Thank you. Going public is an important milestone and one we couldn’t have accomplished without your support. Today is a big day for Backblaze-we became a public company listed on the Nasdaq Stock Exchange under the ticker symbol BLZE!īefore I explain what this means for us and for you, I want to give my thanks.

Backblaze ipo