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Backblaze S-1 IPO

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Re: Backblaze S-1 IPO

#3

Post by 0des »

encryptluks2 wrote: post #2

After Cloudflare's announcement this is likely a last act as people move away. Good luck if you invest but I can see them filing for bankruptcy in 2-5 years.

Just curious, are you currently or have you been a Backblaze customer?

Re: Backblaze S-1 IPO

#4

Post by tedyoung »

encryptluks2 wrote: post #2

After Cloudflare's announcement this is likely a last act as people move away. Good luck if you invest but I can see them filing for bankruptcy in 2-5 years.

Are you referring to Cloudflare's R2 storage? If so, I'm not sure that's completely comparable as Backblaze has a huge focus on backup systems, not just cloud storage.

[Edit: didn't realize Backblaze has cloud storage, I still think of them as the cloud backup company.]

Re: Backblaze S-1 IPO

#6

Post by vineyardmike »

Congrats to the backblaze team!

Long time customer of their backup product, and I'm considering B2 for an upcoming project as a result. They seem to be good at doing what they do, which is always great to see :) Especially great to see an IPO from a company that isn't exploiting privacy, or gig workers, and instead simply providing a great service.

Re: Backblaze S-1 IPO

#7

Post by collegeburner »

encryptluks2 wrote: post #2

After Cloudflare's announcement this is likely a last act as people move away. Good luck if you invest but I can see them filing for bankruptcy in 2-5 years.

I dont think every time a competitor launches it instantly eats all marketshare from the others. Backblaze seems to target different niches like small projects, also personal backup (cloudflare does not do this). Also cloudflare new storage seems like more "hot storage" cache-type service but backblaze seems like more "cold storage" and infrequent access. Also since backblaze is a member of bandwidth alliance the two might work well together and compliment instead of compete so much.

Re: Backblaze S-1 IPO

#8

Post by vineyardmike »

tedyoung wrote: post #4
encryptluks2 wrote: post #2

After Cloudflare's announcement this is likely a last act as people move away. Good luck if you invest but I can see them filing for bankruptcy in 2-5 years.

Are you referring to Cloudflare's R2 storage? If so, I'm not sure that's completely comparable as Backblaze has a huge focus on backup systems, not just cloud storage. [Edit: didn't realize Backblaze has cloud storage, I still think of them as the cloud backup company.]

Backblaze offers "B2" storage, which is also API compatible with S3 (and cheaper, no ingress/egress, etc). I think their focus is more long term storage (slow, infrequent access but cheap per unit).

Re: Backblaze S-1 IPO

#10

Post by 0des »

For those looking at the risks, it might sound a little pessimistic, however when compared against other 'emergent growth' S-1's we've seen this year, it appears to be an otherwise normal filing with the normal amount of CYA. I hope they do well, and I hope they don't change too much in the pursuit of a profit. Not being profitable in the SaaS business is not necessarily the scarlet letter that it is in other fields, so I'm optimistic for their future.

Also, congrats Backblaze! The next adventure begins :)

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