![]() 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. Its Backblaze Storage Cloud service keeps over 500 billion files available on demand and is designed to store trillions more in the future. Almost half a million customersįounded in 2007, Backblaze has almost 500,000 customers worldwide. Our mission is to make storing, using, and protecting that data astonishingly easy,” San Mateo, California-based Backblaze said in the preliminary IPO filing. Welcome to my article on backblaze nasdaq thursday 100m ipo 650mnovetcnbc. “Data is the digital world’s most precious resource. Shares will trade on the Nasdaq under the 'BLZE' ticker. We wish them many more successes going forward!Īlso, Read an Interview with SkySilk CEO on Parler’s Exit from Amazon: An Allyn-PR Perspective.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. Backblaze said it plans to sell 6.25 million shares at between 15-17 (£11-£12.50) per share in its forthcoming initial public offering (IPO), according to new paperwork filed with the market regulator. Backblaze has undoubtedly come a long way since its launch nine years ago. It shows that there is still plenty of room in the cloud storage sector, even as market veterans like Microsoft and Google dominate it. It is an impressive achievement for any business and particularly remarkable for start-ups like Cloud Backblaze Thursday 100M IPO 650MNovetCNBC. The company has a relatively small market share compared to its competitors, so it may be difficult for Backblaze to scale up and become a significant player in the cloud storage industry.Ĭloud storage provider Backblaze’s Thursday 100M IPO was a huge success, with the company raising 650 million.The company relies heavily on Amazon Web Services (AWS) for its infrastructure, so if AWS were to experience an outage or suffer another significant issue, Backblaze could be negatively affected.The company is yet to be profitable, so there is no guarantee that it will ever become profitable.Investing in Backblaze comes with a few potential risks: What risks come with investing in Backblaze? Additionally, Backblaze will finance future acquisitions and expand the business into new markets with the funds. How will the funds be used?īackblaze will invest in infrastructure and growth funds raised from its Thursday IPO. It has over 700,000 customers and stores over 50 petabytes of data. The founders of Backblaze established the company in 2007 and offered unlimited backup space for $5 per month. How much did Backblaze raise in their IPO?Īccording to CNBC, cloud storage company Cloud Backblaze Thursday 100M IPO 650MNovetCNBC raised $150 million in its IPO on Thursday, pricing its shares at $23 each.Īpproximately $1.3 billion is the company’s value. Individual investors can then participate in the IPO through their brokerages. Institutional investors line up, then the IPO prices, and allocate the allocations.The investment bank(s) then “sell” the IPO to institutional investors such as mutual funds and hedge funds.The investment bank(s) then work with the company to determine the best price and timing for the IPO.The company hires an investment bank or bank to underwrite the IPO.Companies often raise capital through IPOs for expansion, acquisitions, or other purposes.Ī typical IPO involves the following steps: What is an IPO?Īn initial public offering (IPO) is the process of selling shares of a privately held company to the public for the first time. As the IPO paperwork is still at the preliminary stage, the figure of 100m is a placeholder amount that is. Cloud 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. ![]() With Cloud Backblaze Thursday 100M IPO 650MNovetCNBC, you can restore your data anytime from any device. An array of hard drives Photo: Shutterstock. Backblaze provides safe and secure storage for files of any size and type in the cloud. What risks come with investing in Backblaze?īackblaze is a cloud backup service offering unlimited data backup space.How much did Backblaze raise in their IPO?.
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