Rivian raised $2.5 billion in a pre-IPO round in July. Those companies all routinely tapped venture investors for hefty amounts of capital on their way to the public exchanges. Coinbase is valued above $70 billion, Roblox is over $50 billion and Affirm topped $40 billion. At least 21 tech companies to debut in 2021 are worth over $10 billion. exchanges this year and, by the standards of its peers, Backblaze is a micro-cap. Over 100 technology companies have listed on U.S. Backblaze shares climbed 24% in their debut on Thursday and another 12% on Friday, lifting the price to $22.31 and giving the company a market cap of around $650 million.
In the year that ended June 30, Backblaze's revenue totaled $59.9 million, with second quarter sales up about 17% to $16.2 million, according to the company's prospectus.īackblaze raised just $100 million in its offering, less than one-twentieth the amount raised this year by companies including GlobalFoundries, Robinhood and Bumble.
In an era of blockbuster market debuts preceded by astronomical private financing rounds, Backblaze is a throwback to a time when sub-billion-dollar companies routinely went public to raise capital and build their profile in an effort to win the trust of customers. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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