cloud backblaze nasdaq 100m ipo 650mnovetcnbc

It has 500,000 subscription customers and will boost sales with these funds. But the company has gotten to this point on just 3 million in funding its IPO could deliver up to 100 million in new funding, which would go a long way toward building out its. Backblaze has two exabytes under storage. Backblaze is not exactly an enterprise cloud juggernaut: It recorded 53.8 million in revenue last year, only 14.2 million of which came from its B2 service.

Backblaze went public for several reasons, opening up the company books to clients while proving its maturity with a technology play for the long haul. He added that the company has efficiently developed its reach and operations over the years. According to the company’s CEO & co-founder, Gleb Budman, investors were always eager for a company approaching a public listing while having raised a tiny sum of money to date. The company began in 2007 and issued $10 million sometime earlier through convertible notes. Twenty-one companies debuting in 2021 have valuations exceeding $10 billion.īackblaze got $3 million in funding from external investors along its journey. 100+ tech companies have already gone public in the USA. Backblaze has a market cap of $650 million in the micro-cap segment. They also increased by 12% again, taking the share price to $22.31.

The company got $100 million in funding, with its shares rising by 24% afterward. They were $16.2 million for the period, according to reports. The company revenues were $59.9 million for the year, concluding on 30th June, with Q2 sales figures increasing by 17%. At the other end of the spectrum, Backblaze made news with another IPO. The market cap went past $105 billion for Rivian Automotive afterward, putting it ahead of General Motors and Ford. Yet, the company made headlines, raising almost $12 billion with an IPO. Rivian Automotive, a leading electric vehicle manufacturer, currently has negligible revenues.

Cloud backblaze nasdaq 100m ipo 650mnovetcnbc