![]() ![]() Total revenue by quarter has grown steadily, as the chart shows below: Major competitive or other industry participants include: The main drivers for this expected growth are the growing demand for enterprises for ever larger amounts of data and a rising number of remote-located employees and contractors needing access to relevant data stores.Īlso, a key challenge for the industry is to effectively defend against security threats and improve data privacy for corporate and personal data. This represents a forecast CAGR of 18.5% from 2022 to 2027. Backblaze’s Market & CompetitionĪccording to a 2023 market research report by MarketsAndMarkets, the global market for cloud storage services was an estimated $78.6 billion in 2022 and is forecast to reach $184 billion by 2027. ![]() The firm seeks customers primarily through online marketing, social media, partnerships and word of mouth.īLZE operates a self-serve website that enables users to sign up for a free trial and convert to a paid subscription. Management is headed by co-founder, Chairperson and CEO Gleb Budman, who has been with the firm since its inception and was previously in various senior positions at SonicWall, MailFrontier and Kendara. San Mateo, California-based Backblaze was founded to develop a cloud-based SaaS storage service suite for businesses and consumers wishing to easily back up and store their critical data. ![]() However, given the company's lower forward revenue growth outlook and its increasing operating losses, I’m not optimistic about Backblaze, so my outlook is Bearish. The firm provides cloud-based storage and recovery software to businesses and individuals. Backblaze ( NASDAQ: BLZE) went public in November 2021, raising approximately $100 million in gross proceeds from an IPO priced at $16.00 per share. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |