![]() Nasdaq has been aggressively courting tech companies in recent years, and has been successful in convincing many to list on the exchange. The IPO is also a big win for Nasdaq, which has been working to attract more tech IPOs. The banks have been working with Backblaze for years and have been instrumental in helping the company grow. The IPO gives the company a much needed influx of cash to invest in its business and expand its product offerings.įor Goldman Sachs, Morgan Stanley, and Barclays, the IPO is a major coup. This is a big win for Backblaze and its investors, who have been waiting for the company to go public for years. Backblaze plans to use the proceeds from the IPO to invest in its business and expand its product offerings. The company has been profitable since 2014, and generated $233 million in revenue in 2020. The company has a pay-as-you-go pricing model, with customers paying for the amount of storage they use. Backblaze sold 28.3 million shares in the IPO, which was led by Goldman Sachs, Morgan Stanley, and Barclays.īackblaze provides cloud backup and storage services to more than half a million customers, including businesses and individual consumers. ![]() The company, which was founded in 2007, priced its shares at $23 each, valuating the company at $4.4 billion. Backblaze goes public with $650M IPOīackblaze, a cloud backup and storage company, went public on Friday with an initial public offering (IPO) that raised $650 million. Backblaze was founded in 2007 and is headquartered in San Mateo, California. The company said it plans to raise up to $650 million in its initial public offering. Backblaze, a cloud backup and storage company, announced Thursday that it has filed to go public on Nasdaq.
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