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1. Backblaze nasdaq friday 100m ipo 650mnovetcnbc software#
2. Backblaze nasdaq friday 100m ipo 650mnovetcnbc license#

Backblaze nasdaq friday 100m ipo 650mnovetcnbc license#

However, Minio distributed object storage server, written in Go and open sourced under Apache License Version 2. Their BLZE share price forecasts range from 11.00 to 30.00. On average, they expect the companys stock price to reach 17.13 in the next year. This suggests a possible upside of 306.8 from the stocks current price. Backblaze shares climbed 24 in their debut on Thursday and another 12 on Friday, lifting the price to 22.31 and giving the company a market cap of around 650 million. The IPO plan coincides with the COVID-19 pandemic driving more businesses to operate digitally and rely on cloud computing for more of their workflow. Reuters reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around $1 billion. By the standards of its peers, Backblaze is a micro-cap. One of Backblaze’s competitors is Amazon, the world’s fourth most valuable U.S.

Backblaze nasdaq friday 100m ipo 650mnovetcnbc software#

San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. 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 (AMZN.O) Amazon Web Services, although Backblaze targets smaller companies.Īccording to a report 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.US30 US Wall Street 30 (USA 30, Dow Jones)Īn 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. “Data is the digital world’s most precious resource. Our mission is to make storing, using, and protecting that data astonishingly easy,” San Mateo, California-based Backblaze said in the preliminary IPO filing. Oct 18 (Reuters) - Cloud storage provider Backblaze Inc filed for a U.S. Almost half a million customersįounded in 2007, Backblaze has almost 500,000 customers worldwide. initial public offering (IPO) on Monday, cashing in on growing demand for cloud computing from businesses expanding their.

Its Backblaze Storage Cloud service keeps over 500 billion files available on demand and is designed to store trillions more in the future. 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.