With its current niche carved out, more funding and exposure is likely to benefit it long term. That said, the listing seems to be a net positive for Backblaze. For one thing, public listings open up companies to shareholder influence and greater regulatory oversight. The big three all went public earlier on in their development. Most of the biggest cloud providers are publicly listed. For starters, by going public, Backblaze will be able to bring in more money. However, the shift from independent to public can have its benefits. Earlier this year, Mailchimp employees were outraged by the decision to sell the firm. When a company’s structure shifts, employees can be wary. Beginning August, Backblaze had raised a little under $3 million from outside investors. Its revenue grew 24% in the following quarter, but so did the losses-by $1.9 million. Going Publicīackblaze reported $2.4 million in losses on $16.2 million revenue in Q2 of 2021. It holds firms like California’s King County and American Public Television among its client base. This boosted its popularity and put it in competition with major cloud providers like AWS, Google, and Microsoft.ĭespite not being able to beat the big three, Backblaze managed to distinguish itself as a great cloud solution for newer users. Although often overlooked in favor of bigger companies, the cloud provider has a solid track record of serving smaller clients.Īt first, the firm focused primarily on cloud backup, but in 2016, it expanded its offerings to include cloud storage. It will be trading under the symbol “BLZE”.īackblaze was established in 2007. Personally, I have about 10TB of data stored on Backblaze from one of my computers, and with recent performance increases, I certainly won’t be leaving any time soon.Cloud firm Backblaze files to go public on Nasdaq. The price increases of Backblaze have also hardly exceeded inflation. Miners have been buying up hard drives and SDDs, despite the limited profitability of Chia mining.īackblaze explains the change and their justification in more detail in a blog post. Chia is a cryptocurrency, similar to Bitcoin, but rather than relying on processing power to earn them, it relies on storage space. The email references supply chain costs, and hard drive prices have been increasing this year, at least in part as a result of Chia mining. In this instance, the price changes make sense. This price increase mirrors a change that occurred just over two years ago when the monthly price increased from $5 to $6. Current Backblaze customers are also able to purchase an extra year at the lower price. Regardless of the number of hard drives connected to your computer and the amount of data stored on them, unlimited remote backup is only $7 per month.Īnyone hoping to start backing up your files (as you should if you don’t want to lose data) before the price increase can do so before August 16th when the changes take effect. We signed up for a Personal Backup plan at Backblaze, and this review is about our experience with the process, the software, and the service in general. Cost is 0.005 per GB per month for storage and download after the first 10 GB. While this change may be disappointing, it is unsurprising given the unlimited nature of the single computer backup plan. May use Backblaze's storage pods do build in-house backup servers. The previous $6/month plan is increasing to $7/month, yearly is increasing from $60 to $70, and the $110 two year plan is going to $130. While plan prices will jump next month, Backblaze is giving customers a chance to lock in existing prices for up to two years. In an email sent to customers today, Backblaze announced that they will be increasing the cost of its unlimited Mac backup plan.
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