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Backblaze IPO

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Re: Backblaze IPO

#81

Post by Godel_unicode »

vaughan wrote: post #25

I 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 ti…

> Entire backups of 4TB drive in less than This drive must be mostly empty, otherwise 4TB/(20*60) yields on the order of 3GBps. That's B as in Bytes.

Re: Backblaze IPO

#82

Post by colechristensen »

AYBABTME wrote: post #22
airstrike wrote: post #9

Earlier quoted context omitted.

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.

I think the deal is they are spending more on growth than their profit, buying hardware for the next several years is expensive and as long as that growth keeps up quite a bit of value is being created.

Re: Backblaze IPO

#83

Post by jterrys »

rvz wrote: post #72

Let's just say that if you missed CloudFlare [0] and DigitalOcean [1], BackBlaze is another instant buy in my books. Another real tech IPO once again. [0] https://news.ycombinator.com/item?id=20707306 [1] https://news.ycombinator.com/item?id=26262799

I picked up 400 shares on their IPO back in 2019. And then 100 more when they hovered around $14.

Suffice to say I'm pretty happy with my portfolio with them today.

Re: Backblaze IPO

#85

Post by ryanmercer »

mey wrote: post #79
FfejL wrote: post #34

Earlier quoted context omitted.

Not sure where you're getting those numbers. I've been a Backblaze customer for 10+ years, and I was contacted about the directed share program. Have not heard about price or volume yet.

How were you contacted? Been a customer for some time. Looking at my billing history looks like 2013. Must not be long enough :(

Not who you replied to but I got an email October 22nd "Pre-Registration for Potential IPO Directed Share Program " telling me to express interest, did, then October 28th got an email from Fidelity "Backblaze Directed Share Program - Account Opening Invitation" giving me until the 9th to open a Fidelity brokerage account.

Re: Backblaze IPO

#86

Post by DominoTree »

Their periodic drive failure reports and whatnot tell me that they probably have a lot of their other shit together as well - always a gamble but I’d rather invest in a company with their product together and the biggest worry of them being acquired versus something flashy

Re: Backblaze IPO

#87

Post by munificent »

rsync wrote: post #73
matthewmcg wrote: post #40

Earlier quoted context omitted.

"Fickle"? I've been a subscriber to the unlimited tier since seemingly forever, and I didn't realize it was now $7/mo instead of $5/mo. I think in the aggregate, subscriptions are pretty sticky due to inertia, etc.

""Fickle"? I've been a subscriber to the unlimited tier since seemingly forever, and I didn't realize it was now $7/mo instead of $5/mo. I think in the aggregate, subscriptions are pretty sticky due to inertia, etc." I wish that were the case and I wish that all customers were like you. However, I have been tracking - and discussing - these rates with this target market for longer than Backblaze has existed and this…

I think you may be overfitting to the backup enthusiast community which is likely a small fraction of their userbase.

Most users:

1. Realize they should back up their stuff.

2. Hunt around for a backup solution provider. At this moment, they are probably very highly price sensitive.

3. Pick one and set it up.

4. Forget about forever, or until the house burns down.

You will never ever see or hear these people on forums and stuff like they because they don't give a crap about backups any more than the average tooth-owner spends time discussing dental hygiene on the Internet. It's just a problem to be solved and forgotten as soon as possible.

Re: Backblaze IPO

#88

Post by [deleted] »

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.

[deleted]

Re: Backblaze IPO

#89

Post by uf00lme »

bpodgursky wrote: post #30
henning wrote: post #8

> 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.

I think it takes awhile before you can short a company, definitely not an option for most consumer brokers. CFDs might be possible but that’s not really the same thing

Re: Backblaze IPO

#90

Post by [deleted] »

FfejL wrote: post #34
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.

Not sure where you're getting those numbers. I've been a Backblaze customer for 10+ years, and I was contacted about the directed share program. Have not heard about price or volume yet.

[deleted]
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