Backblaze is not exactly an enterprise cloud juggernaut: It recorded $53.8 million in revenue last year, only $14.2 million of which came from its B2 service.It also offers a backup and recovery service for businesses, which has never been more important in the age of ransomware attacks.Backblaze's object storage service is called B2, and its primary selling point is cost: B2 is significantly cheaper than S3 and the similar options available from Microsoft and Google Cloud. The company offers cloud storage that is compatible with AWS' popular S3 storage service, which most anyone who has built a cloud application over the last decade has probably worked with once or twice. But reliable options for smaller companies, which don't want to get lost alongside megacorporations at the big providers, are starting to get serious traction.īackblaze filed for an initial public offering this week, joining the ranks of dozens of cloud-based enterprise tech companies that have joined the public markets over the last couple of years. providers for a relatively long period of time, which made sense as the business world became comfortable with the concept. Must-read: How to find multi-bagger investments - one characteristic - companies with lower valuations.Cloud infrastructure has been dominated by the Big Three U.S. So when investors see a company with such humility, it’s hard not to get excited. The industry grew a massive 40.8% in 2020 - with growth showing little signs of slowing.Ĭompanies opting to go public later, at higher valuations made it difficult to find multi-bagger investments. According to Flexera Software, 92% of companies use multiple vendors to lower cost - with some being better at different applications.Ĭloud growth: COVID accelerated cloud adoption and remote work - also accelerating the need to store all that virtual data. It’s a competitive industry but luckily for Backblaze, customers habitually choose several cloud platform providers. The difference - Amazon’s AWS controls 40.8% of the market - with Backblaze having less than 0.1%.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |