Computer backup: It backs up all new and changed data on laptops, desktops, and external hard drives.Revenue in this business grew by 66% during the year ended December 31, 2020. First 10GB cost nothing, then $0.005/GB/month. B2 Cloud Storage: It provides customers direct access to storage cloud to store, use, and protect data.The firm’s opportunity in the mid-market alone for Public Cloud IaaS is expected to grow to $54.6 billion by 2025, representing a CAGR of 27%, and for DPaaS to $11.0 billion by 2025, representing a CAGR of 19%. Additionally, the WW market for DPaaS was $7.7 billion in 2020 and expected to reach $18.4 billion by 2025. According to IDC, the WW market for Public Cloud IaaS Storage was $27.6 billion in 2020 and is expected to grow to $91.0 billion by 2025. It serves both the Public Cloud IaaS storage and the Data-Protection-as-a-Service (DPaaS) markets. The firm raised $5 million in 2012, stakeholders including TMT Investments, Charles Jones and Kwok Hang Ng. HQ is in San Mateo, CA with two other leased data center facilities in Arizona and Amsterdam, the Netherlands. The start-up was incorporated in Delaware in April 2007, founded by 5 people including CEO Gleb Budman, 47 (total compensation of $410,105 as of December 31, 2020), CTO Brian Wilson, 54 ($410,105), and chief cloud officer Tim Nufire, 57. It climbed 24% in their debut on Nasdaq on last Thursday and another 12% on last Friday, lifting the price to $22.31 and giving the company a market cap of around $650 million for the public company now listed on under BLZE ticket.

– that never reveals figures on its business – in a SEC filing (188 pages).īackblaze CEO Gleb Budman, center, celebrated first day of trading on NasdaqĦ,250,000 shares were sold at $16 per share for the $100 million IPO, in the middle of projected range of between $15 and $17 that gave company a valuation of $583 million.

Seeking Alpha’s Donovan Jones lays out a bullish thesis for the stock here.An IPO always obliges a company to reveal its financial results.

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.”.

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.

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.

Backblaze ipo price