cloud backblaze nasdaq thursday friday ipo

CLOUD BACKBLAZE NASDAQ THURSDAY FRIDAY IPO SOFTWARE

(This story corrects second paragraph to remove 'early' before next year.

4 min read If you’ve had your fill of initial public offerings (IPOs) in 2021, I totally get it. 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 650M - Backblaze went public this week after generating just 16 million in revenue in the second quarter.

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. 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. 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. Library of Congress, according to a 2011 McKinsey study. In cloud storage, it competes with the likes of Inc's Amazon Web Services, although Backblaze targets smaller companies.īackblaze said earlier this year it now stores one exabyte of customer data, which is the equivalent of more than 4,000 times the information stored in the U.S. Reuters cited unnamed sources who said that the San Mateo. Cloud backup and storage service Backblaze debuted on the Nasdaq exchange Thursday, priced at 16 per share and popping 24.38 by the end of the day. Provides cloud storage for consumers and SMBs. reportedly is lining up banks for an IPO next year that could value it at about 1 billion. The company was founded by Timothy Nufire, Gleb Budman, Charles Jones, Kwok Hang Ng and Brian.

CLOUD BACKBLAZE NASDAQ THURSDAY FRIDAY IPO SOFTWARE

Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies, and has since expanded into offering cloud storage services which is now the fastest-growing part of its business. Everything you need to know about Backblaze IPO including Offer Price, Filed Date, IPO Date, Offer Shares, Deal Size and Underwriters. It also offers B2 Cloud Storage and Computer Backup services.

Cloud backblaze nasdaq thursday friday ipo