Hearth Stats
  • Home
  • Gaming
    • Final Fantasy
  • Consoles
  • Cool Things
  • Interesting Facts
  • How to’s
  • Mir4
  • Axie
  • Ffxiv
  • Contact Us
  • Our Team
    • Why We Rock
    • Privacy Policy
    • Terms and Conditions
No Result
View All Result
  • Home
  • Gaming
    • Final Fantasy
  • Consoles
  • Cool Things
  • Interesting Facts
  • How to’s
  • Mir4
  • Axie
  • Ffxiv
  • Contact Us
  • Our Team
    • Why We Rock
    • Privacy Policy
    • Terms and Conditions
No Result
View All Result
Hearth Stats
No Result
View All Result
Home Cool Things

Backblaze to Make Public Debut on Nasdaq

Neal Hanson by Neal Hanson
February 28, 2023
in Cool Things
0
cloud backblaze thursday friday ipo 650mnovetcnbc
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Backblaze, a leading cloud storage company, will debut on Nasdaq as part of its initial public offering (IPO). This will allow investors to purchase company shares, and see returns from their investment.

The company’s CEO, Gleb Budman, is optimistic about its future and what this move signifies for its potential growth.

Related articles

following bumble ceo wolfe herd usauyeungforbes

Bumble CEO Whitney Wolfe Hurd announces new projects after last year’s revenue growth

March 15, 2023
Gadget 88 is a new device by Sargis Sargsyan

Founder Gadget 88 Sargis Sargsyan Speaks About Plans for the Future Development of His Unique Device

February 27, 2023

With its new public launch, let’s take a closer look at Backblaze and what this means for its investors.

Overview of Backblaze

Backblaze, a cloud-based data storage and computing provider, will debut publicly on Nasdaq on Thursday. The company offers efficient and secure services to businesses and individual users, providing the capability to store large amounts of data cheaply. In addition, the company helps its customers protect their data against system failure or cyberattack.

Founded in 2007, Backblaze has served over 25,000 customers from 140 countries worldwide. The company also has an extensive partner network which covers over 200 companies. In the years since it was founded, the company has experienced tremendous growth with its revenues increasing significantly in the last few years alone. Backblaze employs over 100 people across offices in four locations: Seattle, WA; San Mateo, CA; Amsterdam; and London.

In its IPO prospectus, Backblaze expressed its plan to use the proceeds from offering shares publicly to develop new products, enter new markets, and expand employee benefits such as stock options and retirement plans. Additionally, Backblaze will utilise Nasdaq’s technology platforms to share real-time insights regarding stock prices and market trends information with investors worldwide.

Overview of Initial Public Offering (IPO)

An initial public offering (IPO) is the process by which a private company or organisation raises funds from investors to become publicly traded. When a company completes an IPO, it becomes listed on a stock exchange for trading and can raise capital from the public markets.

IPOs can be seen as company events and are exciting for investors, who often have their portfolios bolstered with shares of the newly public firm. However, this newly released stock may increase in value or decline depending on market conditions and changes in investor sentiment towards the issuing business. Therefore, investors must carefully analyse potential contenders and evaluate their risk profiles to ensure that the investment is wise.

The main objective of an IPO is to provide liquidity to existing shareholders while raising fresh capital to finance future growth plans. In addition, companies also utilise IPOs as opportunities to establish their brand and build awareness among more potential customers and stakeholders, while aiding existing shareholders to monetize their investments at attractive returns.

Before filing an official registration statement with the Securities and Exchange Commission (SEC), companies structuring IPOs must follow certain procedures such as road shows which involve presentations at various financial institutions across the country giving them insights into the business performance and expected prospects forward. They also distribute prospectus documents explaining business operations, financial history, key executives, competitive environment, target market traits etc., for prospective purchasers’ benefit. Following these activities is generally followed by underwriters setting up book building sessions after which price discovery happens based on bid quantity/ price followed by fixing prices at which shares offered are expectedly subscribed by investors leading further up to closing of issuance of subscription status, allotment ordering etc.,

Background

Backblaze, an online cloud storage provider, recently announced they will go public on the Nasdaq exchange. Founded in 2007, Backblaze has been providing cloud storage solutions to consumers and businesses for nearly 14 years.

After the company’s initial public offering (IPO), Backblaze will become the first cloud storage provider to launch a public offering on the Nasdaq exchange.

This article will provide a brief background of Backblaze and discuss the expected impact of their IPO.

History of Backblaze

Backblaze was founded in 2007 as a company providing a full range of services and products for cloud storage and backup. The company initially focused on providing the storage but slowly expanded to include archiving, business continuity, integrated backup, monitoring and analytics. Backblaze started small, only serving customers from its San Mateo, California headquarters. However, the launch of their B2 Cloud Storage service in 2015 allowed consumers to store unlimited data for as low as $5 per month. Fast forward to 2021, Backblaze is now ready to make its public debut after announcing that it will list its stock on Nasdaq at the end of March 2021.

The journey has been helped by the accelerated consumer digital transformation brought about due to the pandemic with most businesses turning more digital-first strategies during this time which resulted in increasing demand for cloud storage. Backblaze prepares to join peers such as Dropbox and Box who already have gone public previously but is looking to differentiate itself with offerings in both enterprise operators and consumers alike which would be bolstered by the expected IPO proceeds that would fund continued growth and expansion into other markets.

backblaze nasdaq thursday friday ipo 650mnovetcnbc

Recent Performance

Backblaze, Inc. is an American cloud data storage and backup technology provider founded in 2007. The company provides an interesting twist on the traditional cloud backup service, offering unlimited backups for a flat rate. Backblaze has also created AaaS (Analysis as a Service) which gives customers access to sophisticated analytics services and its simple automated data backup platform.

In 2021, Backblaze will debut on the Nasdaq Stock Exchange with shares priced at $17 per share in anticipation of high demand from investors. This move places the company in prime position to take advantage of renewed interest in digital infrastructure following the dramatic shift to virtual living and working during the COVID-19 pandemic.

Until recently, Backblaze had focused primarily on growth in a crowded field of tech disruptors and venture capitalists with customers ranging from individual startups to Fortune 500 enterprises. In 2020, however, Backblaze experienced a significant surge in interest thanks to customer wins such as Dropbox and Hulu who adopted many of their products into their offerings. As such, 2021 should be an even more lucrative year for Backblaze with increased customer traction securing additional financial resources fueled by their public listing on the Nasdaq stock market.

Financials

Industry giant Backblaze has announced the launch of its Initial Public Offering (IPO). The company is set to hit the public market and become part of the Nasdaq Composite Index.

With this move, Backblaze is poised to revolutionise the cloud storage market and make a big splash in the financial sector. Let’s look at how this public offering could affect the market.

Valuation

Backblaze is currently aiming for a $1 billion valuation. As part of the company’s initial public offering (IPO), it will be offering 10.2 million shares, priced in the range of $17 to $19 each. The company has stated that it plans to use most of the proceeds from the IPO to invest in research and development, expand its data centres and hire additional members for its staff. Additionally, current shareholders plan to sell about 1.4 million shares.

Following the IPO, Backblaze will become one of the few cloud storage companies traded publicly on NASDAQ under their ticker symbol “BLAZE.” This will provide greater visibility since investors can quickly access the company’s financial data and stock performance information anytime. Backblaze’s current CEO will continue to hold voting control over a majority of stock after this public debut and intends to invest heavily in innovating existing products and introducing new services related to their business model.

cloud backblaze thursday friday 100m 650mnovetcnbc

Financials

Backblaze has announced plans to debut publicly on Nasdaq under the ticker “AZURE”. Backblaze is a cloud storage and backup service provider that has operated since 2007.

The company has grown quickly and been profitable since 2013, serving over 5 million customers. It is also the official cloud storage provider of Docker Containers, Inc.

This IPO will provide Backblaze greater access to capital markets, enabling them to grow their operations and continue investing in product innovation. Following the listing, Backblaze will offer shares of common stock at an initial price of $20 per share with a total offering size estimated at $500 million.

Backblaze leadership believes their listing on Nasdaq will increase their credibility as a public entity and improve investors’ understanding of the company’s capabilities by increasing corporate visibility through improved market transparency. The per-share price post-IPO is estimated to range between $20-$22 depending on investor demand.

IPO Details

Backblaze, an online cloud backup company, announced recently that it will launch an initial public offering (IPO) on the Nasdaq stock exchange, allowing the company to access greater capital resources.

This IPO will be the first public offering of Backblaze, allowing the company and its investors to benefit from increased financial liquidity.

In this article, we will look at the details of the Backblaze IPO and go over the implications of the offering.

Expected Price Range

Backblaze, an online data storage provider, recently announced that it would be making its public debut on the Nasdaq. As the company prepares to go public, it has released details about its expected price range and the funds it expects to raise.

The expected price range is $13-$15 per share, and Backblaze plans to offer up to 5 million shares of its common stock. The company will also be offering 4 million additional shares if an over-allotment option is exercised in full. At the midpoint of the proposed price range, Backblaze aims to raise a total of $69 million before deducting underwriting discounts and commissions.

According to Backblaze’s SEC filing, they intend to use the proceeds from this IPO for “working capital and other general corporate purposes” including continuing innovation of their services and growing their customer base by launching new products or services. They may also use some of the funds in strategic acquisitions or investments.

If all goes according to plan, Backblaze will begin trading during April 2021 on Nasdaq under the stock symbol “BBZ”

backblaze nasdaq friday 100m ipo 650mnovetcnbc

Number of Shares

Backblaze Inc., an Oakland, California-based cloud storage company, plans to debut on the Nasdaq stock exchange in June 2021. The company will offer up to 8 million shares at an estimated price range of $19 – $21 per share.

This initial public offering (IPO) will raise to $168 million for Backblaze, valuing the company at over 1 billion dollars, if the stock price is raised at the mid-point of its proposed range. Additionally, Backblaze will receive all proceeds from this offering with no planned acquisitions or investments with IPO proceeds.

The 8 million shares offered consist of 7 million newly issued Class A common stock shares and 1 million additional existing Class A common stock that certain selling shareholders intend to divest in the offering. These proposed shares represent 10 percent of Backblaze’s total outstanding capitalization after completing the IPO.

tags = leading storage cloud platform, Nasdaq Global Market , Oppenheimer & Co., William Blair and Raymond James will act as lead book-running managers, cloud backblaze friday 100m ipo 650mnovetcnbc, cloud backblaze nasdaq friday 100m 650mnovetcnbc, backblaze thursday friday 100m ipo 650mnovetcnbc

Neal Hanson
Tech expert

Tech expert fresh from the Australian Coast. Been in the tech industry more than 9 years, as part of a Business Growth Group. His out of office days are 100% for freestyle surfing and waves chasing.

Share76Tweet47
Previous Post

Founder Gadget 88 Sargis Sargsyan Speaks About Plans for the Future Development of His Unique Device

Next Post

Ally is a goal-setting and collaboration software that helps remote teams work together more effectively

Related Posts

following bumble ceo wolfe herd usauyeungforbes

Bumble CEO Whitney Wolfe Hurd announces new projects after last year’s revenue growth

by Neal Hanson
March 15, 2023
0

Bumble CEO Whitney Wolfe Herd has been pushing the boundaries of innovation since she founded the dating app in 2014....

Gadget 88 is a new device by Sargis Sargsyan

Founder Gadget 88 Sargis Sargsyan Speaks About Plans for the Future Development of His Unique Device

by Neal Hanson
February 27, 2023
0

Gadget 88 has just appeared on the market and is already gaining momentum. We spoke with Ukrainian businessman Sargis Sargsyan...

airbnb q1 yoybursztynskycnbc yoy 102.1m 100.9m

Why Airbnb beats estimates with 70% revenue growth as travel rebounds

by Neal Hanson
February 26, 2023
0

Today is a great day for Airbnb, as the company has managed to beat estimates with a 70% revenue growth...

letter sec alphabet facebook intel secfeinercnbc

Why Google and Facebook’s antitrust problem is getting worse

by Neal Hanson
February 26, 2023
0

Thanks to their massive reach and lucrative data collection practices, Google and Facebook have long dominated the tech industry. Still,...

letter sec amazon facebook secfeinercnbc

Why these companies are urging the SEC to take action

by Neal Hanson
February 26, 2023
0

Many tech giants, including Google, Facebook, Amazon, Microsoft and Intel, have joined forces to urge the Securities and Exchange Commission...

Load More
gameloop call of duty mobile garena

Gaming Amazon Call of Duty mobile

March 25, 2023
call of duty bunker codes

Free Call of Duty codes

March 25, 2023
call of duty vanguard kaufen pc

Call of Duty Vanguard Crackwatch

March 25, 2023

Recent News

gameloop call of duty mobile garena

Gaming Amazon Call of Duty mobile

March 25, 2023
call of duty bunker codes

Free Call of Duty codes

March 25, 2023

Categories

  • Call of Duty
  • Consoles
  • Cool Things
  • Featured
  • Final Fantasy
  • Gaming
  • How to's
  • Interesting Facts
  • Latest
  • News
  • Uncategorized

Site Navigation

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

© 2018 JNews by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 JNews by Jegtheme.

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Hearth Stats
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.