backblaze nasdaq thursday 100m ipo 650mnovetcnbc

#Backblaze nasdaq thursday 100m ipo 650mnovetcnbc upgrade#

It will upgrade the company’s existing data centers to increase their total storage capacity by 10, bringing the total to over 5 petabytes (5 million gigabytes). Cloud Backblaze Announces Expansion PlansĬloud Backblaze announced plans to expand its storage capacity and geographic reach today significantly. The company currently offers a subscription service that allows users to back their data onto their servers. Backblaze said it plans to use the money to accelerate its growth by expanding its customer base and product offerings. The Seattle-based startup said the round was led by Fidelity Investments and included participation from existing investors like Andreessen Horowitz and Index Ventures. Cloud Backblaze Raises $100 Million in IpoĬloud Backblaze, a data storage company, announced Thursday that it had raised $100 million in an initial public offering (IPO). As more businesses shift their operations to the Cloud, organizations need strategies for storing their data securely and reliably.

In 2017, public cloud storage accounted for more than 50% of all web server traffic, according to data from Akamai Technologies. This latest performance milestone comes when public cloud storage grows in popularity. Cloud Backblaze CEO Adrian Cockroft remarked on the significance of these developments: “The combination of high-performing hardware with our unique distributed architecture is delivering incredible performance and resilience.” The company is now using a mixture of SSDs and HDDs to store data, as well as expanding its use of replication and sharding to improve performance. Cloud Backblaze’s latest performance milestones come as the company ramps up its new data storage technologies investments.

Backblaze nasdaq thursday 100m ipo 650mnovetcnbc