![]() Cloud storage backup since 2007īackblaze launched in 2007 with consumer-grade cloud backups and expanded into business uses with its B2 Cloud Storage product in 2015, providing businesses with features that compete with hyperscalers at competitive prices. "It has no shortage of competitors, and the public cloud guys have no problem undercutting industry pricing to gain business."īackblaze declined to be interviewed for this story before press time. "The danger that Backblaze faces is in maintaining relevance in what's become a cloud-first world," McDowell said. Backblaze's success, however, will depend on its ability to continue to differentiate itself and compete with bigger vendors. Still, the company has carved out a niche in the cloud storage market thanks to its early presence and growth over the past decade, said Steve McDowell, a principal analyst at Moor Insights & Strategy. "Backblaze has been more of a bootstrap company that relies on a little bit of funding and tries to keep losses down instead of taking hundreds of millions of dollars from VCs and spending lavishly to grow," Raffo said. Raffo noted that Backblaze generated $54 million in revenue last fiscal year and $31 million in revenue until June of this year, according to the filing. "The downside is, it's also a highly competitive market, and they face some of the largest IT companies." "They're in a rapidly growing market and have a chance to greatly expand their revenues and income," Raffo said. Its backup offerings compete most directly with other cloud-based backup products such as Druva, Clumio, Datto and Commvault's Metallic backup-as-a-service suite. A crowded marketīackblaze business cloud storage and services compete directly with hyperscalers such as AWS, Azure and Google Cloud Platform, along with smaller cloud storage vendors such as Wasabi. He noted the company's prospectus indicates an expectation to raise between $89.5 million to $103.4 million. "Backblaze will probably have to grow faster to keep shareholders happy, but they're not far off where they need to be," said Dave Raffo, a senior analyst at Evaluator Group. The company said money raised from the IPO will be invested into sales and marketing to expand its visibility, increase its total number of data centers and establish new vendor partnerships. The company was incorporated in 2007 and is headquartered in San Mateo, California.Backblaze will probably have to grow faster to keep shareholders happy, but they're not far off where they need to be.ĭave RaffoSenior Analyst Evaluator Group It serves the public cloud IaaS storage and Data-Protection-as-a-Service markets. In addition, the company offers Backblaze Computer Backup that automatically backs up data from laptops and desktops for businesses and individuals, which provides a subscription-based Software-as-a-Service and serves use cases, including computer backup, ransomware protection, theft and loss protection, and remote access. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as backups, multi-cloud, application development, and ransomware protection. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. Backblaze, Inc., a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |