So, color us more than curious.īut before we sign off, we have new numbers from Backblaze that give us a nibble at its Q3 results. And when double-digit multiples applied to profit and not revenue. Its IPO is a harkening back to the time when it was somewhat difficult to convince private-market investors to value your company in the nine-figures, let alone 10. The 5 analysts offering 12-month price forecasts for Backblaze Inc have a median target of 13.00, with a high estimate of 18.00 and a low estimate of 11.50.The company sold 6.3M Class A shares last week at the midpoint of its IPO’s expected 15-17/share range. Which makes Backblaze nearly unique from our perspective. About a week later, the company set an IPO price of 16. The company is selling 6,250,000 shares of Class A common stock to the public with an initial price between 15 to 17 per share, according to a blog post from Backblaze. The examples roll from memory: Robinhood was worth dozens of billions when it went public Coinbase was as well when it direct listed NerdWallet is going to be a public unicorn merely on the strength of the written word and AllBirds? More like AllUnicorn. Backblaze filed its IPO Tuesday, debuting the cloud storage and backup vendor to the market after 14 years in operation. Indeed, even some of the smaller or less traditional companies that we’ve seen debut in recent quarters have had valuations north of $1 billion. Underwriters also have a 30-day option to purchase an additional 937,500 shares at the IPO price. Which is notable given the sheer heft of many tech companies we’ve seen go public lately. This has Backblaze expecting gross proceeds of 100 million from the IPO. That means that Backblaze is going public as a non-unicorn. Quick extrapolation indicates that at the top end of its price range, Backblaze’s IPO could value the storage firm at $684.3 million. Notably the company’s fully diluted valuation is quite a bit higher, with Renaissance Capital reporting that at $16 per share, Backblaze’s valuation inclusive of shares that have been earned, if not yet exercised via options or similar, to be $644 million. And it has, namely an S-1/A filing indicating that the company expects to price its IPO between $15 and $17 per share.Īt its IPO price range and 28,545,893 shares expected to be outstanding after its IPO, Backblaze is worth $428.2 million to $485.3 million. Since it was smaller in revenue terms than most tech companies going public these days, we deferred on judging its worth until Backblaze itself provided some guidance. But when it came to pricing, we had little idea of how to value the company. Cloud backblaze nasdaq ipo 650mnovetcnbc Leather reclining sofa Call of duty 5 world at war reloaded Vapor phase reflow Carrion gameplay Arynmoma russian collection Date night book for couples Ram 1500 rambox bed rack Juniper point 3c elevation golf clash notebook Vr supported gpu 1366x768 dirt rally wallpaper. With a central core of content to help power customer acquisition and a huge swath of customers, it was an interesting cloud storage play. When Backblaze first filed to go public, TechCrunch found it a compelling company.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |