Backblaze (BLZE) is a California-based cloud storage and data backup company.
The business works with over 500 customers in more than 175 countries, offering data storage for a variety of information at data centers in the U.S., the Netherlands, and more.
But while the company operates physical locations to store the data, customers pay a monthly subscription through Backblaze’s Software-as-a-Service (SaaS) business model.
This is a solid model for the up-and-coming company, as subscription-based services are easier to grow and manage versus the manufacturing of a physical product.
And with companies continuing to allow employees to work in remote and hybrid environments, demand for cloud-storage services will only rise in the years ahead.
So, with Backblaze’s position in the SaaS space, combined with growing demand for data storage, it has the potential to become a long-term winner of the cloud market following its initial public offering on Thursday.
In fact, the stock is already up 40% after its first two days of trading. And this is just the beginning…
Profit from These IPOs with Musk, Cuban, Dorsey, and Branson
A radical $2.1 quadrillion shift is coming to the financial markets.
Some are calling it G.T.E. and all the billionaires you always hear about are involved.
Elon Musk, Mark Cuban, Jack Dorsey, Richard Branson, and even banks like J.P. Morgan are invested in the tech behind it.
If you think this is reserved just for the elite, I have good news for you. Just $25 could get you in alongside these billionaires.
But this is a rapidly developing situation. With unprecedented money at stake, you don’t want to get left behind.
We recommend you get all the facts right away, which is why we’re giving you access to a special video dossier on this development.