The IPO plan coincides with the COVID-19 pandemic driving more businesses to operate digitally and rely on cloud computing for more of their workflow. The global market for cloud storage services is expected to grow from $50.1 billion this year to $137.3 billion by 2025, according to market research firm MarketsandMarkets. Backblaze offers just one online backup plan. market for IPOs has been on a tear in 2020, fueled by a buoyant stock market, with more than $65 billion sold in stock, up almost 40% from the total for all of 2019.
Most online backup services offer at least two plans, some offer dozens, but Backblazes strategy keeps the decision process really easy. Backblaze lets you backup an unlimited amount of data from a single computer with no restriction on individual file type or size. At its IPO price range and 28,545,893 shares expected to be outstanding after its IPO, Backblaze is worth 428.2 million to 485.3 million.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".(This story corrects second paragraph to remove "early" before next year.
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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. Jordan Novet / CNBC:Cloud backup service Backblaze climbed 24 in its Nasdaq debut on Thursday and 12 on Friday, after raising 100M in its IPO, giving it a. At the opposite end of the range, cloud backblaze thursday friday 100m 650mnovetcnbc made news with another initial public offering.31, 2020 and computer backup revenue grew by 23%. It boasts of $65M in ARR with $22M contributed by B2 and $43M by computer backup. The organization’s revenue was 59.9 million for the year, which ended June thirty, a seventeen per cent increase over Q2 Marketing estimates. Cloud backup service Backblaze climbed 24 in its Nasdaq debut on Thursday and 12 on Friday, after raising 100M in its IPO, giving it a market cap of.
Storage cloud platform, Backblaze (NASDAQ: BLZE) has priced its initial public offering of 6.25M shares of its Class A common stock at 16.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.According to reports, they were 16.2 million for the period. Annual recurring revenue is seen ranging between $69 to $71M representing growth in the range of 25% to 29%.
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