That includes what has Altimeter Growth ( NASDAQ: AGC) falling, what to know about Hedera Hashgraph (CCC: HBAR-USD), as well as the news sending Lordstown Motors ( NASDAQ: RIDE) stock higher. InvestorPlace has all the latest stock news that traders need to know about today. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Backblaze Inc is seeking to hire investment banks for an initial public offering (IPO) in 2021 that could value the cloud storage and backup software provider at around 1 billion, people familiar. is looking to go public in the US stock markets as demand for cloud computing surged during the COVID-19 pandemic. There’s plenty more news worth diving into below! Cloud-based storage space provider Backblaze, Inc. They are also all still together working at Backblaze. These co-founders had been working together for 20 years before creating Backblaze.ĭuring that time, they launched two other companies. The company was created by seven co-founders that built their own storage solutions. The company currently has about 500,000 customers across more than 175 countries. Users can also make use of the company’s services to host content, manage media, build apps, and more. NEW YORK, Nov 20 (Reuters) - Backblaze Inc is seeking to hire investment banks for an initial public offering (IPO) in 2021 that could value the cloud storage and backup software provider at. This article explains what this means for customers now and in the future, discussing key topics like security protocols. Backblaze’s security features are designed to ensure the safety of customer data and privacy. Riley Securities are serving as the joint book-running managers for it.įinally, Lake Street is acting as the co-manager of the IPO.ħ F-Rated Stocks to Sell Before We Reach Christmasīackblaze is a cloud storage company that makes it easy for users to save their data. Backblaze is an online backup service that allows customers to protect their digital information in the cloud. Oppenheimer & Co., William Blair and Raymond James are the lead book-running managers for the offering. Underwriters also have a 30-day option to purchase an additional 937,500 shares at the IPO price. Price Target 10.70 Profile Analyst Ratings Chart Competitors Earnings Financials Insider Trades Institutional Ownership Headlines SEC Filings Short Interest Social Media Backblaze MarketRank Forecast Analyst Rating Buy 3.00 Rating Score Upside/ Downside 170.9 Upside 10. This has Backblaze expecting gross proceeds of $100 million from the IPO. This gives the company a market cap of 671 million. It’s also worth noting that the offering includes 6.25 million shares. The company will list its stock on the Nasdaq under the symbol BLZE, according to a filing. It’s pricing these shares at $16 each, which is the midpoint of its previous range of $15 to $17 per share. ![]() Let’s jump into all the details traders need to know about the Backblaze IPO.įirst off, the company plans to list shares of BLZE stock on the Nasdaq Exchange. An image of a cloud imprinted on a circuit board lit up by blue circuit lights representing the backblaze IPO and stock.
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