![]() ![]() It also offers a backup and recovery service for businesses, which has never been more important in the age of ransomware attacks. Backblaze (Nasdaq:BLZE) fired up investors for a fourth straight session, with the cloud-storage firm’s stock rising 23.5 on the day and almost 100 above last week’s 16 IPO price. Seeking Alpha’s Donovan Jones lays out a bullish thesis for the stock here. Backblazes object storage service is called B2, and its primary selling point is cost: B2 is significantly cheaper than S3 and the similar options available from Microsoft and Google Cloud.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. In 2020, its net loss swelled year-over-year (YoY) to 6.6. Like most technology IPOs, Backblaze is seeing losses. 11, Backblaze (NASDAQ: BLZE) has already seen its stock price surge by more than 100, and is currently trading around 31 a. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. Cloud storage provider Backblaze (BLZE) has revealed the terms for its IPO. Cloud-based storage space provider Backblaze, Inc. Since its initial public offering (IPO) at 16 per share on Nov. Backblaze ( BLZE) will have a total of about 29.3M Class A and B shares outstanding going forward.one vote for Class A shares, giving insiders about 97% of BLZE’s voting power. Since its initial public offering (IPO) at 16 per share on Nov. ![]()
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