cloud backblaze nasdaq friday 650mnovetcnbc

#Cloud backblaze nasdaq friday 650mnovetcnbc how to
#Cloud backblaze nasdaq friday 650mnovetcnbc archive
#Cloud backblaze nasdaq friday 650mnovetcnbc software

Revenue for the service grew 65% year over year, bringing in $14.2 million for the company in 2020.īackblaze, however, isn't alone in IPOing with limited funding and revenue. Now fourteen years after its founding, Backblaze believes its established the product and cultural foundation to go public, partially because of B2. According to Backblaze's website, B2 costs $0.005 per gigabyte of storage each month compared to $0.021 with AWS, $0.017 with Azure, and $0.020 with Google Cloud.

Its B2 storage service is comparable to that of cloud giants, but is much cheaper. From B2 to IPOīackblaze sells itself as the affordable cloud storage alternative. And they each far surpassed Backblaze in revenue, reporting $318 million and $1 billion last year, respectively. Another competitor in the backup and storage space considering an IPO, Veeam, was funded to the tune of $500 million. So what's the motivation for Backblaze going public now? 'We're actually hoping this shows that it is possible for companies to successfully become public companies without having to wait as long as some companies are feeling they need to wait today,' Gleb Budman, CEO and co-founder of Backblaze, told Insider.įor comparison, DigitalOcean, which offers cloud storage competitive to Backblaze's B2 offering, raised $456.4 million before going public earlier this year. And regulatory filings show that last year, Backblaze booked a net loss of $6.6 million on revenues of $53.78 million - nothing to sneeze at, but it only represents a small piece of a market worth tens of billions. By the closing bell on Friday, Backblaze was trading at $22.04 a share, giving it a market cap of $645.18 million.īetween its founding in 20, San Mateo, California-based Backblaze raised less than $3 million in outside equity, followed by $10 million in convertible notes in August.

#Cloud backblaze nasdaq friday 650mnovetcnbc software

But unlike most cloud software startups, it got there without taking on the bonkers levels of venture capital that has become commonplace in the industry.

Backblaze's CEO says he wants to prove high revenue and VC backing aren't needed to go public.Ĭloud backup and storage service Backblaze debuted on the Nasdaq exchange Thursday, priced at $16 per share and popping 24.38% by the end of the day.

The company sells itself as an affordable cloud storage solution, competing with the Big Three.

Backblaze IPO'd at $16 per share after taking in little funding and revenue for a cloud company.

Founded in 2007, the company is based in San Mateo, CA. With over two billion gigabytes of data storage under management, the company currently works with more than 500,000 customers in over 175 countries.

#Cloud backblaze nasdaq friday 650mnovetcnbc archive

The Backblaze Storage Cloud provides a foundation for businesses, developers, IT professionals, and individuals to build applications, host content, manage media, back up and archive data, and more.

#Cloud backblaze nasdaq friday 650mnovetcnbc how to

“Backblaze is a natural partner in this effort and we’re excited to work with them to bring the value of cloud backup to a larger group of businesses and institutions.”īackblaze shared more details about the new partnership and how to sign up in a blog post the company published today.īackblaze makes it astonishingly easy to store, use, and protect data. “Our goal with Backup Exec is to provide a simple, powerful solution that frees business owners from concerns about data loss,” said Jason Von Eberstein, Senior Principal Product Manager of Veritas. With B2 Cloud Storage priced at one-fifth the cost of traditional cloud vendors-the combination offers a powerful tool to businesses that want to optimize their spend.

Veritas and Backblaze make cloud adoption easy.Ĭost reduction: Backup Exec makes configuring backups easy, which means that businesses can fine-tune their storage bill in line with their budgets. Hybrid-cloud adoption: The capital and personnel expense of purchasing and managing on-prem data storage can be challenging. Backblaze B2 is configurable in a few easy steps. Simplification: Backup Exec provides a simple, unified user interface that removes complexity from data protection. Taken together, the partnership delivers in three key value areas: “This aligns perfectly with our mission to make storing and using data astonishingly easy-especially for IT teams that already have a ton on their plate.” “The Backup Exec service empowers small and medium-sized businesses to do more with less, and to minimize their daily lift around data management and protection,” Nilay Patel, VP of Sales & Partnerships at Backblaze explained. IT teams can rest easy, knowing that remote offices, Linux and Unix workloads, virtual or Microsoft workloads, and more, are protected and immediately available if needed-all configurable in a few clicks and at one-fifth the price of traditional storage vendors, with no data retention minimums or other lock-in fees. Today, any business or institution using Backup Exec can configure their data to back up to B2 Cloud Storage.