is looking to go public in the US stock markets as demand for cloud computing surged during the COVID-19 pandemic. ![]() Cloud-based storage space provider Backblaze, Inc. It is expected to price during the week of November 8, 2021. The core platform of Backblazes cloud services is the Backblaze Storage Cloud, and it keeps over 500 billion files available on demand. ![]() Riley Securities are the joint bookrunners on the deal. Oppenheimer & Co., William Blair, Raymond James, JMP Securities, and B. It plans to list on the Nasdaq under the symbol BLZE. The company has attracted over 480,000 customers, who use its Backblaze Storage Cloud platform across more than 175 countries on its approximately 2 exabytes, or 2 trillion megabytes, of data storage under management.īackblaze was founded in 2007 and booked $60 million in revenue for the 12 months ended June 30, 2021. It provides these cloud services through a purpose-built, web-scale software infrastructure built on commodity hardware. At the midpoint of the proposed range, Backblaze would command a fully diluted market value of $644 million.īackblaze states that it is a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data. Backblaze is preparing for its initial public offering (IPO) that will see shares of its stock start trading today Source: Blackboard / Shutterstock Let’s jump into all the details traders. The San Mateo, CA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. ![]() Backblaze, which provides cloud storage for consumers and SMBs, announced terms for its IPO on Tuesday.
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