There goes the competitive pricing...
Right, because the existing owners were giving you that price as a favor, and now the evil stockholders will demand that they chase away all of their customers by raising prices.
Backblaze IPO
21–30 of 300 posts
Re: Backblaze IPO
#22> We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future. Fundamentals seem solid, gotta get me some of those shares!
That's pretty standard for most young and fast growing tech companies
It feels like Backblaze has been in the space for a while though? My uninformed picture of them was as a modest small/medium size business with a good niche product and probably some loyal customers type, not as an all-stop-sign-pulled-VC-funded-moonshot startup.
Re: Backblaze IPO
#23Fidelity 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.
Well I'm a BackBlaze customer and have been for a year or more. Not sure what else would qualify me to be part of the IPO before it goes public. Also AFAIK there is nothing preventing them from allowing customers to be part of it, but there may be a limiting factor. Some way to narrow the list. I have more than one computer subscribed, that could be part of the filter.
Re: Backblaze IPO
#24$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.
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Re: Backblaze IPO
#25I have paid for Backblaze for 4 years, after signing up for two 2 year subscriptions a few years apart.
I have never got it to backup my files ever.
Their settings dialog integrates with macOS preferences and freezes while it scans for files to backup without giving me any status update. It uploads so damn slowly it’s pretty useless. If I was to move/rename things around it would take weeks more to reupload. Every time I try to ignore some files so it’s actually useful, it blocks my system prefs again and takes forever to rescan.
I honestly don’t know how anyone uses it.
Carbon Copy Cloner on the other hand is excellent software. Entire backups of 4TB drive in less than <20mins. And excellent support.
Re: Backblaze IPO
#26> We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future. Fundamentals seem solid, gotta get me some of those shares!
That's pretty standard for most young and fast growing tech companies
At 14 years old, is Backblaze still considered "young"?
Re: Backblaze IPO
#27Here is their roadshow video for those like me that are more audio and visual. Great information in the video with their CEO and CFO. Funny that Matthew Prince (Cloudflare founder and CEO) is included in the roadshow video pumping up Backblaze when Cloudflare just announced a directly competing product. DigitalOcean (huge recent IPO and tendies) is also listed as a partner of Backblaze. I wonder if DigitalOcean object storage is built on-top of Backblaze B2?
https://www.netroadshow.com/custom/IPO/Backblaze/retail/road...
I applied for IPO shares from Robinhood. Robinhood is my play brokerage, but they do have the best IPO platform.
Re: Backblaze IPO
#28Re: Backblaze IPO
#29I love the Backblaze personal backup but never used another product by them. Wish them the best of luck, thats a super tough market for sure!
Re: Backblaze IPO
#30> We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future. Fundamentals seem solid, gotta get me some of those shares!
If you're confident, short it. Make some money.