Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. With just $16 million in revenue, Backblaze is smaller than many other technology companies that have come to public markets in recent years. The Company is focused on providing businesses and consumers cloud services to store, use, and protect their data. Backblaze employs 270 workers across the globe. Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. Backblaze (NASDAQ:BLZE) has a market capitalization of $160.78 million and generates $67.48 million in revenue each year. Backblaze Inc provides cloud storage services. ![]() Wed like to share more about how we work and what drives our day-to-day business. Backblaze issued an update on its second quarter 2022 earnings guidance on Monday, May, 30th. The company offers services such as Backblaze B2 Cloud Storage which enables customers to store data, developers to build applications, and partners to expand their use cases. Backblaze's stock was trading at 16.89 at the beginning of 2022. Have Watchlists? All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. Visit a quote page and your recently viewed tickers will be displayed here. Got a confidential news tip? Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Let’s take a look.Change value during other periods is calculated as the difference between the last trade and the most recent settle. So, color us more than curious.īut before we sign off, we have new numbers from Backblaze that give us a nibble at its Q3 results. And when double-digit multiples applied to profit and not revenue. Its IPO is a harkening back to the time when it was somewhat difficult to convince private-market investors to value your company in the nine-figures, let alone 10. Which makes Backblaze nearly unique from our perspective. The examples roll from memory: Robinhood was worth dozens of billions when it went public Coinbase was as well when it direct listed NerdWallet is going to be a public unicorn merely on the strength of the written word and AllBirds? More like AllUnicorn. Indeed, even some of the smaller or less traditional companies that we’ve seen debut in recent quarters have had valuations north of $1 billion. ![]() Which is notable given the sheer heft of many tech companies we’ve seen go public lately. That means that Backblaze is going public as a non-unicorn. Quick extrapolation indicates that at the top end of its price range, Backblaze’s IPO could value the storage firm at $684.3 million. Notably the company’s fully diluted valuation is quite a bit higher, with Renaissance Capital reporting that at $16 per share, Backblaze’s valuation inclusive of shares that have been earned, if not yet exercised via options or similar, to be $644 million. And it has, namely an S-1/A filing indicating that the company expects to price its IPO between $15 and $17 per share.Īt 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. Since it was smaller in revenue terms than most tech companies going public these days, we deferred on judging its worth until Backblaze itself provided some guidance. But when it came to pricing, we had little idea of how to value the company. With a central core of content to help power customer acquisition and a huge swath of customers, it was an interesting cloud storage play. When Backblaze first filed to go public, TechCrunch found it a compelling company.
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