What risks come with investing in Backblaze? Additionally, Backblaze will finance future acquisitions and expand the business into new markets with the funds. How will the funds be used?īackblaze will invest in infrastructure and growth funds raised from its Thursday IPO. It has over 700,000 customers and stores over 50 petabytes of data. The founders of Backblaze established the company in 2007 and offered unlimited backup space for $5 per month. How much did Backblaze raise in their IPO?Īccording to CNBC, cloud storage company Cloud Backblaze Thursday 100M IPO 650MNovetCNBC raised $150 million in its IPO on Thursday, pricing its shares at $23 each.Īpproximately $1.3 billion is the company’s value. Individual investors can then participate in the IPO through their brokerages. Institutional investors line up, then the IPO prices, and allocate the allocations.The investment bank(s) then “sell” the IPO to institutional investors such as mutual funds and hedge funds.The investment bank(s) then work with the company to determine the best price and timing for the IPO.The company hires an investment bank or bank to underwrite the IPO. Companies often raise capital through IPOs for expansion, acquisitions, or other purposes.Ī typical IPO involves the following steps: What is an IPO?Īn initial public offering (IPO) is the process of selling shares of a privately held company to the public for the first time. With Cloud Backblaze Thursday 100M IPO 650MNovetCNBC, you can restore your data anytime from any device. Backblaze provides safe and secure storage for files of any size and type in the cloud. What risks come with investing in Backblaze?īackblaze is a cloud backup service offering unlimited data backup space.How much did Backblaze raise in their IPO?.
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