BLZE shot up to as high as a $22.25 intraday, up 39.1% from the stock’s $16-a-share IPO price. 13, 2022 (GLOBE NEWSWIRE) - Backblaze, Inc. (Nasdaq: BLZE), the leading independent storage cloud platform, today. A Closer Look at BLZE Stock In early November, Backblaze planned to price its public offering between 15 and 17.Shares later pulled back, but still ended the day ahead 24.4% at $19.90. The firm’s initial public offering raised $100M by selling some 6.3M Class A shares at the midpoint of their expected $15-$17/share range. The company also has Class B shares for executives and pre-IPO investors.BLZE also granted underwriters the option to buy 937,500 extra Class A shares for overallotments. Backblaze ( BLZE) will have a total of about 29.3M Class A and B shares outstanding going forward.one vote for Class A shares, giving insiders about 97% of BLZE’s voting power. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. BLZE offers cloud-based computer storage and backup services to both businesses and consumers.Thursday’s rally boosted that up to about $582.5M. Cloud backup service Backblaze climbed 24 in its Nasdaq debut on Thursday and 12 on Friday, after raising 100M in its IPO, giving it a market cap of 650M Backblaze went public this week after generating just 16 million in revenue in the second quarter. The rise of the small-business cloud This Thursday: Backblazes IPO could usher in the small.The New York Times’ Wirecutter review site recently lauded BLZE as “the easiest to use and the best cloud backup service for most people.”.The company’s subscription-based products compete with larger rivals like the S3 service from Amazon (NASDAQ: AMZN), Azure from Microsoft (NASDAQ: MSFT) and Google Cloud from Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). BLZE’s pre-IPO investors include London-listed financial firm TMT Investments, which owns about 25% of the company. Techmeme: Cloud backup service Backblaze climbed 24 in its Nasdaq debut on Thursday and 12 on Friday, after raising 100M in its IPO, giving it a market cap of 650M. Cloud backblaze nasdaq thursday friday 650mnovetcnbc. up 39.1 from the stock’s 16-a-share IPO price.Backblaze (NASDAQ.
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