It could impact Backblaze’s growth prospects and revenue streams, particularly if more prominent players with deeper pockets enter the market. While demand for cloud storage solutions is expected to grow in the coming years, the industry is also becoming increasingly competitive, with numerous players vying for market share. However, the market outlook for the cloud storage industry is also worth considering. Investor Interest and Market Outlookīackblaze’s IPO expected to draw significant investor interest, given the company’s strong financial performance and position as a leading cloud storage provider. Backblaze also plans to expand its sales and marketing efforts to increase its customer base and grow its revenue streams. The company has stated that it aims to become a one-stop shop for all cloud storage needs, and it plans to introduce new services and features in the coming years to achieve this goal. Looking ahead, Backblaze plans to use the funds raised from its IPO to expand its product offerings and invest in research and development. The company also reported a net income of $23.5 million in 2021, compared to $19.1 million in 2020. According to the company’s S-1 filing with the Securities and Exchange Commission (SEC), Backblaze generated $162.2 million in revenue in 2021, up from $148.8 million in 2020. Backblaze’s Financial Performance and Future PlansĬloud Backblaze Thursday Friday 100m IPO comes when the demand for cloud storage solutions is rapidly increasing, driven by the rise of remote work and the growing need for data storage and security. Backblaze also focuses heavily on providing top-notch customer support, with a team of support specialists available 24/7 to assist customers with any issues. The company prides itself on its transparent pricing and straightforward terms of service, which it believes sets it apart from competitors. Its flagship product, Backblaze Backup, provides unlimited cloud backup for personal computers and external hard drives, while Backblaze B2 provides a low-cost, high-performance storage solution for businesses.īackblaze’s business model is built around offering affordable and easy-to-use cloud storage solutions that appeal to a wide range of customers. The company offers a range of storage solutions to both individual and business customers, including cloud backup, cloud storage, and cloud computing services. Backblaze’s History and Business Modelįounded in 2007, Backblaze has quickly established itself as one of the leading cloud storage providers in the market. Its IPO is likely to draw significant investor interest. With its focus on providing affordable, reliable, and secure cloud storage solutions to individuals and businesses, Backblaze has gained a loyal following in the tech industry. Cloud Backblaze Thursday Friday 100m IPO is set to take place on Thursday and Friday and is expected to be one of the most highly anticipated IPOs of the year. storage company Backblaze has recently announced its plans to go public with an initial public offering (IPO) of $100 million.
The Company is traded on the AIM market of the London Stock Exchange. The Company’s objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation.
TMT Investments invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio.įounded in 2010, TMT has a current investment portfolio of over 50 companies and net assets of US$218 million as of 30 June 2021. is a portfolio company of TMT Investments. LONDON, UK: Backblaze Inc., a leading cloud storage platform has priced its initial public offering of 6.25 million shares of its Class A common stock at a price to the public of $16 per share, for gross proceeds to Backblaze of $100 before underwriting discounts, commissions, and offering expenses payable by Backblaze.īackblaze’s Class A common stock is expected to begin trading on the Nasdaq Global Market on 11 November 2021 under the ticker symbol “BLZE.” The offering is expected to close on 15 November 2021, subject to the satisfaction of customary closing conditions.Īt the placing price of $16 per share, the value of TMT’s investment in Backblaze is valued at approximately $59.8 million, which represents a revaluation uplift of $1.8 million (or 3.2 per cent) in the value of TMT’s investment in Backblaze, compared to the previously announced valuation as of 30 June 2021 (adjusted for the value of TMT’s additional investment made in Backblaze in the second half of 2021).īackblaze Inc.
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