![]() 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. 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.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Petersburg, FL 33716, email: telephone: 80.Ī registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by telephone at (800) 621-0687 or by email at or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at William Blair & Company, L.L.C. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Oppenheimer & Co. The offering will be made only by means of a prospectus. Lake Street will act as co-manager for the proposed offering. Riley Securities acting as joint book-running managers. Oppenheimer & Co., William Blair and Raymond James will act as lead book-running managers for the proposed offering, with JMP Securities and B. Backblaze has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “BLZE.” The initial public offering price is expected to be between $15.00 and $17.00 per share. In addition, the underwriters will have a 30-day option to purchase up to an additional 937,500 shares of Class A common stock from Backblaze. ![]() Backblaze has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) to offer 6,250,000 shares of its Class A common stock to the public. ![]() (“Backblaze”), a leading storage cloud platform, today announced that it has launched the roadshow for its initial public offering. ![]()
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