![]() ![]() Indeed, even some of the smaller or less traditional companies that we’ve seen debut in recent quarters have had valuations north of $1 billion. Which is notable given the sheer heft of many tech companies we’ve seen go public lately. That means that Backblaze is going public as a non-unicorn. ![]() Quick extrapolation indicates that at the top end of its price range, Backblaze’s IPO could value the storage firm at $684.3 million. Notably the company’s fully diluted valuation is quite a bit higher, with Renaissance Capital reporting that at $16 per share, Backblaze’s valuation inclusive of shares that have been earned, if not yet exercised via options or similar, to be $644 million. And it has, namely an S-1/A filing indicating that the company expects to price its IPO between $15 and $17 per share.Īt its IPO price range and 28,545,893 shares expected to be outstanding after its IPO, Backblaze is worth $428.2 million to $485.3 million. ![]() Since it was smaller in revenue terms than most tech companies going public these days, we deferred on judging its worth until Backblaze itself provided some guidance. But when it came to pricing, we had little idea of how to value the company. With a central core of content to help power customer acquisition and a huge swath of customers, it was an interesting cloud storage play. When Backblaze first filed to go public, TechCrunch found it a compelling company. ![]()
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