BACKBLAZE, INC.

General Information
Business:

We are a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data in an easy and affordable manner. We provide these cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware. From genome sequencing to mapping the world, from saving lives to playing online games, from interacting with a business to running one, data is central to modern existence. By substantially reducing the complexity and frustration of storing, using, and protecting data, we empower customers to focus on their core business operations. Referrals from our community of brand advocates, combined with our highly efficient and primarily self-serve customer acquisition model and an ecosystem of thousands of partners, have allowed us to attract over 480,000 customers. These customers use the Backblaze Storage Cloud platform across more than 175 countries to grow and protect their business data on our approximately 2 exabytes, or 2 trillion megabytes, of data storage under management. As businesses and consumers shift to the cloud, we believe our cloud services will increasingly become a foundational element of their overall technology stack.

At its founding, Backblaze set out to simplify the process of storing, using, and protecting data. Over the following years,  we focused relentlessly on cutting away the complexity common among diversified cloud vendors’ services and legacy on-premises system vendors. Today, our solutions are differentiated by their ease of use and affordability.

(Note: Backblaze priced its IPO on Nov. 10, 2021, at $16 – the mid-point of its $15-to-$16 price range – on 6.25 million shares, the same number of shares in the prospectus, to raise $100 million.)

Industry: Cloud - data storage for businesses
Employees: 228
Founded: 2007
Contact Information
Address 500 Ben Franklin Ct San Mateo, CA 94401
Phone Number (650) 352-3738
Web Address http://www.backblaze.com/
View Prospectus: BACKBLAZE, INC.
Financial Information
Market Cap $456.8mil
Revenues $59.87 mil (last 12 months)
Net Income $-11.38 mil (last 12 months)
IPO Profile
Symbol BLZE
Exchange NASDAQ
Shares (millions): 6.3
Price range $16.00 - $16.00
Est. $ Volume $100.0 mil
Manager / Joint Managers Oppenheimer & Co./ William Blair/ Raymond James
CO-Managers JMP Securities/ Lake Street/ B. Riley Securities
Expected To Trade: 11/11/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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