The company will list its stock on the Nasdaq under the symbol "BLZE", according to a filing. The company will trade under the ticker 'BLZE' on the Nasdaq and the company is offering over 6 million shares at a price range of 15 - 17. Gleb Budman, Brian Wilson, and Tim Nufire founded Backblaze in 2007. In its S-1, Backblaze said it has about 500,000 customers worldwide and about 65 million in. Backblaze, a leading cloud storage and data management company, recently filed for an initial public offering (IPO) with the U.S. Backblaze is the developer of cloud storage and computer backup software for enterprises. Oppenheimer & Co, William Blair and Raymond James are the lead underwriters on Backblaze's offering. Backblaze said it intends to list on the Nasdaq Global Market under the ticker symbol BLZE. 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. It has since expanded into cloud storage, with over half a million overall customers across more than 175 countries. San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. Reuters reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around $1 billion. initial public offering (IPO) on Monday, cashing in on growing demand for cloud computing from businesses expanding their digital offerings during the COVID-19 pandemic. Annual recurring revenue is seen ranging between $69 to $71M representing growth in the range of 25% to 29%.Oct 18 (Reuters) - Cloud storage provider Backblaze Inc filed for a U.S. For the three months ended Sep.30, 2021, the company is expected to report revenue in the range of $17 to $17.3M representing Y/Y growth in the range of 23% to 25% net loss is seen ranging between $7.5 to $6.5M compared to a net loss of $1.9M in year ago quarter.That certainly seemed to be the case with cloud computing on Friday. It boasts of $65M in ARR with $22M contributed by B2 and $43M by computer backup. What happenedTo paraphrase an old saw, in certain industries if a top stock sneezes, its peers catch colds.Finally, BLZE stock started trading on the. About a week later, the company set an IPO price of 16. 31, 2020 and computer backup revenue grew by 23%. In early November, Backblaze planned to price its public offering between 15 and 17. While company's total revenue soared 32% Y/Y, B2 cloud storage revenue grew by 66% during the year ended Dec.Blackblaze is a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data in an easy and affordable manner cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware.Net proceeds will be ~$89.5M or $103.4M if the underwriters exercise their option to purchase additional shares in full and assuming a mid-point price of $16/share.Underwriters granted 30-days option to purchase up to an additional 937.5K shares at company request, underwriters have reserved up to 312.5K shares or up to 5% of the shares offered.Backblaze ( BLZE) launched 6.25M shares of Class A common stock IPO expected to be priced between $15 and $17 per share shares are expected to trade on Nasdaq under the symbol, "BLZE".
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