Backblaze presently stores two exabytes of data, or 2 million megabytes, and has 500,000 paying subscribers. Cloud backblaze thursday friday 100m 650mnovetcnbc series#Īs per backblaze 100m series global foundriesjordantechcrunchīackblaze is a reminder of a moment when sub-billion-dollar enterprises commonly went public to acquire funds and enhance their brand in an effort to earn consumers’ trust in an era of blockbuster market launches followed by stratospheric private fundraising rounds. In accordance with the company’s presentation, Backblaze’s revenue for the fiscal year ending June 30 reached $59.9 million, with second-quarter revenues increasing by nearly 17% to $16.2 million.īackblaze generated just $100 million in its IPO, less than one-twentieth of what firms like GlobalFoundries, Robinhood, and Bumble raised this year. Backblaze stock jumped 24% on Thursday and now another 12% on Friday, bringing the price to $22.31 and providing the business a market valuation of over $650 million. Over 100 software companies have listed on US markets this year, yet Backblaze is a micro-cap by comparison. Cloud backblaze thursday friday 100m 650mnovetcnbc software# At least 21 digital startups set to launch in 2021 are valued at more than $10 billion. Coinbase is worth more than $70 billion, Roblox is worth more than $50 billion, and Affirm is worth more than $40 billion. On their path to the public markets, all of those firms consistently solicited large sums of funding from venture capitalists. In July, Rivian raised $2.5 billion in pre-IPO financing. Cloud backblaze thursday friday 100m 650mnovetcnbc series#.Cloud backblaze thursday friday 100m 650mnovetcnbc software#.
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