![]() There should still be more room for growth, however. Indeed, Backblaze claims that B2 Cloud Storage’s revenue has climbed more than 60% year-over-year. On a financial level, the company appears to be on an upward trajectory. In fact, Backblaze currently works with nearly 500,000 customers in over 175 countries. This “automatically backs up a virtually unlimited amount of data” (according to the company), “protecting customers from ransomware, theft, and data loss, as well as providing remote access and more.” Addressing a Vast MarketĮven if you haven’t heard about Backblaze until today, the company has a sizable market presence. 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. Since there are much bigger and more famous companies that offer cloud-based data storage, Backblaze must differentiate itself.īut again, it’s not just about big numbers. 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. InvestorPlace - Stock Market News, Stock Advice & Trading TipsĪs for the IPO itself, it was a huge success from the outset. Still, as we’ll discover, Backblaze has a unique vision and approach to servicing this high-demand niche. 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. In the wake of the Covid-19 pandemic, some businesses have moved their operations online and, more specifically, into the cloud.
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