![]() Then there’s the subscription-based Backblaze Computer Backup service. This service is a “pay-as-you-go” (consumption-based) offering intended for application development, ransomware protection, backup, multi-cloud and other use cases. One is called Backblaze B2 Cloud Storage. What really sets Backblaze apart and will potentially disrupt the industry are the company’s two main cloud services. In other words, it’s a whole lot of cloud storage capacity.īut again, it’s not just about big numbers. What’s an exabyte? According to Backblaze, it’s 1 million terabytes, or 1 billion gigabytes. It’s not enough just to have huge storage capacity, though we can still be impressed as Backblaze has nearly two exabytes of data storage under management. ![]() Since there are much bigger and more famous companies that offer cloud-based data storage, Backblaze must differentiate itself. Moreover, if BLZE stock crashes down through the $16 IPO price, that would be a sign that the sellers have completely taken control. However, $20 could be a significant technical level if it gets there. It’s still too early to identify a defined range for the stock. Over the next week, BLZE stock backslid somewhat and landed at $26. As the old market saying goes, trees don’t just grow straight to the heavens. 17, the stock peaked at $36.50 before it finally started to cool off. The stock jumped 24% on that first day, and then rose another 12% to $22.31 on the following day. Finally, BLZE stock started trading on the Nasdaq on Nov. In early November, Backblaze planned to price its public offering between $15 and $17.Ībout a week later, the company set an IPO price of $16. The initial enthusiasm has subsided somewhat, though, so let’s see if we can get a technical reading on BLZE stock. Still, as we’ll discover, Backblaze has a unique vision and approach to servicing this high-demand niche.Īs for the IPO itself, it was a huge success from the outset. This created a need for bold, disruptive businesses to provide powerful, accessible cloud storage services.īackblaze filled this void but admittedly, it’s not the only cloud-storage company out there. Plus, existing customers more consistently stick with B2 than with backup, and B2 has higher annual average revenue per user.In the wake of the Covid-19 pandemic, some businesses have moved their operations online and, more specifically, into the cloud. ![]() But B2 revenue grew 60% year over year in the first half of 2021, while the online backup business grew 12% during the same period. Less than one-third of Backblaze's revenue comes from B2. Amazon S3 enjoys a gross margin percentage in the low 50s, according to one analyst's estimate, while Backblaze, with its lower object-storage pricing, has an overall gross margin of 50%. ![]() The Backblaze website says data storage from the B2 service costs 76% less than AWS' S3 storage service, with 80% less expensive data download fees. However, Backblaze's B2 cloud storage service has won adoption from some small organizations, such as American Public Television, the nonprofit Gladstone Institutes and California's Kings County. In 2016 the company entered the market of object storage, going up against some of the world's largest companies, including Amazon, Google and Microsoft, which offer cloud computing services to companies, schools and governments.īackblaze, based in San Mateo, Calif., hasn't exactly won over the biggest cloud storage customers of Amazon Web Services. "These public cloud vendors have increasingly focused on the largest enterprises, resulting in significant complexity in their products and pricing that leaves behind mid-market businesses"įollowing its establishment in 2007, Backblaze in 2008 released online backup services for PCs running Apple's MacOS and Microsoft Windows, and the company grew by focusing on that one product. ![]() "The market is demanding alternatives to the traditional, diversified public cloud vendors for multiple reasons," Backblaze said in its IPO prospectus. ![]()
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