cloud backblaze nasdaq 100m ipo 650mnovetcnbc

But the company has gotten to this point on just $3 million in funding its IPO could deliver up to $100 million in new funding, which would go a long way toward building out its technology portfolio and customer-support operation.īackblaze's story should sound familiar.

Backblaze is not exactly an enterprise cloud juggernaut: It recorded $53.8 million in revenue last year, only $14.2 million of which came from its B2 service.

It also offers a backup and recovery service for businesses, which has never been more important in the age of ransomware attacks.

Backblaze's 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.

The company offers cloud storage that is compatible with AWS' popular S3 storage service, which most anyone who has built a cloud application over the last decade has probably worked with once or twice. But reliable options for smaller companies, which don't want to get lost alongside megacorporations at the big providers, are starting to get serious traction.īackblaze filed for an initial public offering this week, joining the ranks of dozens of cloud-based enterprise tech companies that have joined the public markets over the last couple of years. providers for a relatively long period of time, which made sense as the business world became comfortable with the concept. Cloud infrastructure has been dominated by the Big Three U.S.

Cloud backblaze nasdaq 100m ipo 650mnovetcnbc