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• #CLOUD BACKBLAZE THURSDAY FRIDAY IPO SOFTWARE#

BLZE’s pre-IPO investors include London-listed financial firm TMT Investments, which owns about 25% of the company.The New York Times’ Wirecutter review site recently lauded BLZE as “the easiest to use and the best cloud backup service for most people.”.The company’s subscription-based products compete with larger rivals like the S3 service from Amazon (NASDAQ: AMZN), Azure from Microsoft (NASDAQ: MSFT) and Google Cloud from Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). BLZE offers cloud-based computer storage and backup services to both businesses and consumers.Thursday’s rally boosted that up to about $582.5M. He noted the company’s prospectus indicates an expectation to raise between 89.5 million to 103.4 million.

Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. Backblaze will probably have to grow faster to keep shareholders happy, but they’re not far off where they need to be, said Dave Raffo, a senior analyst at Evaluator Group.

The company also has Class B shares for executives and pre-IPO investors.It reported a 2.4 million loss in its second quarter, on 16.2 million in. Backblaze Backblaze IPOd at 16 per share after taking in little funding and revenue for a cloud company. BLZE also granted underwriters the option to buy 937,500 extra Class A shares for overallotments. In its S-1, Backblaze said it has about 500,000 customers worldwide and about 65 million in annual recurring revenue. The firm’s initial public offering raised $100M by selling some 6.3M Class A shares at the midpoint of their expected $15-$17/share range.Shares later pulled back, but still ended the day ahead 24.4% at $19.90. 7 Big Dividend Paying Stocks to Hold Forever. Backblaze IPO: 16 Things for Investors to Know as BLZE Stock Debuts Today. BLZE shot up to as high as a $22.25 intraday, up 39.1% from the stock’s $16-a-share IPO price. Backblaze is preparing for its initial public offering (IPO) that will see shares of its stock start trading today Source.Backblaze (NASDAQ: BLZE) soared nearly 40% intraday Thursday in its first trading session following an IPO that valued the cloud-storage firm at just under $500M.The company will list its stock on the Nasdaq under the symbol “BLZE”, according to a filing. The following information was filed by Backblaze, Inc. We believe 2022 will be a pivotal year in our long-term mission to become the leading independent cloud for data storage. Oppenheimer & Co, William Blair and Raymond James are the lead underwriters on Backblaze’s offering. (BLZE) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021. In the cloud storage space, it competes with the likes of Inc’s Amazon Web Services, although Backblaze targets smaller companies.Īccording to a report Impact-of-COVID-19-on-the-Market- 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. 81.40 of retail investor accounts lose money when trading CFDs with this provider.

#CLOUD BACKBLAZE THURSDAY FRIDAY IPO SOFTWARE#

San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

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. (Reuters) – Cloud storage provider Backblaze Inc filed for a U.S.