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BLZE’s pre-IPO investors include London-listed financial firm TMT Investments, which owns about 25% of the company.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 offers cloud-based computer storage and backup services to both businesses and consumers.Thursday’s rally boosted that up to about $582.5M. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. 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. The company also has Class B shares for executives and pre-IPO investors.if you can get 700mil you can IPO at a billion and the directors believed. The rise of the small-business cloud This Thursday: Backblaze's IPO could usher in the small-business cloud, why Twilio is going after the customer-data platform market, and now really might be the time to start crying, Argentina.
BLZE also granted underwriters the option to buy 937,500 extra Class A shares for overallotments. so now they include mirroring to The Cloud T00:38:27 < jadew>.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.Shares later pulled back, but still ended the day ahead 24.4% at $19.90. 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 (Jordan Novet/CNBC) The essential tech news of the moment. BLZE shot up to as high as a $22.25 intraday, up 39.1% from the stock’s $16-a-share IPO price.Backblaze (NASDAQ: BLZE) soared nearly 40% intraday Thursday in its first trading session following an IPO that valued the cloud-storage firm at just under $500M.