If any suspicious activity is detected, the platform will take appropriate action to protect the user’s data and account security. Finally, the platform also offers a number of features designed to protect customer data, such as data encryption, data integrity checks, and secure backups. This ensures that the customer’s data is never compromised, and that their data is always secure. By taking these steps, Backblaze has ensured that its 650M NovetCNBC Casino platform is one of the most secure gaming platforms available today. Customers can rest assured that their data is safe and secure when they play on the platform. BACKBLAZE THURSDAY FRIDAY 100M IPO 650MNOVETCNBCĪs the cloud storage market continues to expand, businesses are increasingly turning to cloud-based solutions to meet their storage needs. This trend was highlighted on Thursday, when Backblaze, a leader in cloud storage solutions, announced it had received a major investment from NASDAQ. This investment is expected to have a major impact on businesses, as they increasingly look to the cloud for their data storage needs. 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.īLZE 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.The cloud offers a number of benefits to businesses, including increased scalability, cost savings, and improved security. 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. 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. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. 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).īLZE offers cloud-based computer storage and backup services to both businesses and consumers.Thursday’s rally boosted that up to about $582.5M. Seeking Alpha’s Donovan Jones lays out a bullish thesis for the stock here.We are a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data in an easy and affordable manner.BLZE’s pre-IPO investors include London-listed financial firm TMT Investments, which owns about 25% of the company.The New York Times’ Wirecutter review site recently lauded BLZE as “the easiest to use and the best cloud backup service for most people.”.
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We provide these cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware. From genome sequencing to mapping the world, from saving lives to playing online games, from interacting with a business to running one, data is central to modern existence. By substantially reducing the complexity and frustration of storing, using, and protecting data, we empower customers to focus on their core business operations. Referrals from our community of brand advocates, combined with our highly efficient and primarily self-serve customer acquisition model and an ecosystem of thousands of partners, have allowed us to attract over 480,000 customers.
These customers use the Backblaze Storage Cloud platform across more than 175 countries to grow and protect their business data on our approximately 2 exabytes, or 2 trillion megabytes, of data storage under management. As businesses and consumers shift to the cloud, we believe our cloud services will increasingly become a foundational element of their overall technology stack.Īt its founding, Backblaze set out to simplify the process of storing, using, and protecting data. Over the following years, we focused relentlessly on cutting away the complexity common among diversified cloud vendors’ services and legacy on-premises system vendors. Today, our solutions are differentiated by their ease of use and affordability.
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