![]() ![]() Seeking Alpha contributor The Value Investor analyzes BLZE’s future prospects here. one for every Class A share, giving Class B stockholders 97% of the voting power. Additionally, company executives and pre-IPO investors own Class B shares that carry 10 votes each vs.BLZE also gave underwriters the option to buy 937,500 extra Class A shares for overallotments. Backblaze ( BLZE) last week raised $100M selling roughly 6.3M Class A shares at the midpoint of the IPO’s expected $15-$17/share range.The company competes with the likes of S3 service from Amazon (NASDAQ: AMZN), Azure from Microsoft (NASDAQ: MSFT) and Google Cloud from Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). (Backblaze), a leading storage cloud platform, today announced that it has launched the roadshow for its initial public offering. Backblaze intends to raise 100 million in gross proceeds from an IPO of its Class A common stock, offering 6.25 million shares at a proposed midpoint price of 16.00 per share. BLZE provides business and consumer clients with subscription cloud-based computer storage and backup services.I think people have been scared of it and so waited longer and longer.Lucky-photographer/iStock Editorial via Getty Imagesackblaze (NASDAQ: NASDAQ: BLZE) launched its public IPO on Thursday, and the cloud company has had a strong start. Backblaze finished the day with a market capitalization of about 583 million. According to MarketWatch, Backblaze raised 100 million shares by selling 6.25 million shares at 16 apiece. The stock popped 24.4% last Thursday in its first trading session, then added another 10.8% Friday and extended its rally to a third day on Monday. In their first day of trading Thursday, the companys shares (Nasdaq:BLZE) jumped by about 24. Backblaze ( BLZE) was rising on no apparent news other than continued enthusiasm for its initial public offering.The future is being built on independent cloud platforms, and ours has been 14 years in the making. BLZE rose as much as 29.7% to $28.59 before pulling back to close at $25.50, ahead 15.7% for the day and 59.4% since the stock staged an IPO at $16 a share. Backblaze cloud computing coinbase EC Cloud and Enterprise Infrastructure EC Enterprise Applications initial public offering IPO nerdwallet renaissance capital Social Amazon launches free. It means we have more resources with IPO proceeds to increase investment in the development of our Storage Cloud platform and the B2 Cloud Storage and Computer Backup services that run on it.Backblaze (NASDAQ: BLZE) was fire Monday for the third straight session since its IPO last week, up some 16% on the day and roughly 60% since the cloud-storage firm went public last Thursday. ![]()
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