Backblaze IPO • Hacker News Board

Re: Backblaze IPO

#11

Post by jhack » Tue, Nov 02, 2021, 10:16 PM UTC

There goes the competitive pricing...

Re: Backblaze IPO

#12

Post by bigtones » Tue, Nov 02, 2021, 10:18 PM UTC

$65 Million in ARR to list on the NASDAQ seems really low, especially with the 32% YoY growth.

I don't think I've seen a SaaS company with < $100 Million in ARR in the year it listed.

Re: Backblaze IPO

#13

Post by odiroot » Tue, Nov 02, 2021, 10:20 PM UTC

durnygbur wrote: post #2

Any chance to subscribe for their shares for an EU tax resident? List of EU based brokers accepting the subscriptions?

Wouldn't you need to be a customer of one of the underwriting banks? Or, conversely, one level removed, so a customer of one of the big banks on the "VIP list" of initial buyers.

I always thought retail-facing brokers are just too small fishes to be involved.

Re: Backblaze IPO

#14

Post by jsploit » Tue, Nov 02, 2021, 10:21 PM UTC

Previous S-1 discussion (this is an amendment): https://news.ycombinator.com/item?id=28912799

Re: Backblaze IPO

#15

Post by braum » Tue, Nov 02, 2021, 10:22 PM UTC

Fidelity is handling the IPO and if you have been a customer of BackBlaze for a while apparently you will get to buy before public, up to 1,000 shares between $15-17 per share. That is my understanding.

Re: Backblaze IPO

#16

Post by nekoashide » Tue, Nov 02, 2021, 10:24 PM UTC

bigtones wrote: post #12

$65 Million in ARR to list on the NASDAQ seems really low, especially with the 32% YoY growth. I don't think I've seen a SaaS company with < $100 Million in ARR in the year it listed.

Your not wrong, there's been a huge number of companies listing over the last year and some of questionable size and profitability. Everybody sees the market as a huge money machine and all these companies want a piece.

Re: Backblaze IPO

#17

Post by benburleson » Tue, Nov 02, 2021, 10:25 PM UTC

braum wrote: post #15

Fidelity is handling the IPO and if you have been a customer of BackBlaze for a while apparently you will get to buy before public, up to 1,000 shares between $15-17 per share. That is my understanding.

That seems pretty huge, if true.

Re: Backblaze IPO

#18

Post by codegeek » Tue, Nov 02, 2021, 10:26 PM UTC

bigtones wrote: post #12

$65 Million in ARR to list on the NASDAQ seems really low, especially with the 32% YoY growth. I don't think I've seen a SaaS company with < $100 Million in ARR in the year it listed.

It happens. One of our competitors IPO'd at 30M in ARR.

Re: Backblaze IPO

#19

Post by toomuchtodo » Tue, Nov 02, 2021, 10:27 PM UTC

braum wrote: post #15

Fidelity is handling the IPO and if you have been a customer of BackBlaze for a while apparently you will get to buy before public, up to 1,000 shares between $15-17 per share. That is my understanding.

A family member and I are both Backblaze customers, they received a surveymonkey link to indicate interest in an IPO share allocation through Fidelity. If there’s a way to get on that list, I’m interested if anyone knows.

Re: Backblaze IPO

#20

Post by jonplackett » Tue, Nov 02, 2021, 10:28 PM UTC

braum wrote: post #15

Fidelity is handling the IPO and if you have been a customer of BackBlaze for a while apparently you will get to buy before public, up to 1,000 shares between $15-17 per share. That is my understanding.

Here did you hear about this?