"Backblaze is able to get it down to 4 cents because of a direct connection that is made at the data center level," Thomas wrote in an email. Budman said Backblaze makes enough from its storage cost to take care of the Amazon transfer fees.Īmazon's 9-cent egress cost is for downloads over the open internet, according to Thomas. Backblaze B2 storage costs a half-penny per gigabyte, per month. Scott SinclairSenior analyst, Enterprise Strategy GroupĪmazon S3 pricing starts at 2.1 cents per gigabyte, per month in its frequent access tier.
If you're Backblaze, you're trying to make a name for your capability in a world of giants. Backblaze collaborated with Flexify.IO to provide its Cloud to Cloud Migration. Customers enter their credentials for both Amazon and Backblaze into the Flexify.IO console and can securely manage the transfer, according to Ahin Thomas, vice president of marketing at Backblaze. In addition, customers would have to pay the 9 cents per gigabyte in egress fees that Amazon charges and would need enough empty local storage.īudman said Backblaze touts its simplicity and lower cost, so it was frustrating that the vendor didn't have a better service for that type of transfer.īackblaze, based in San Mateo, Calif., formed a partnership with Flexify.IO to provide the Cloud to Cloud Migration service. However, a large amount of data could take weeks or months to transfer in that way. Previously, users would transfer data from S3 to local storage and then move it over to Backblaze. Backblaze cloud takes on 'world of giants'īackblaze CEO Gleb Budman said the two major issues in migrating data from S3 to the Backblaze cloud were the physical one of getting to B2 and the cost. During the beta period that started May 4, more than 3,000 customers used about 1,000 tools to test the APIs. In addition, Backblaze S3-compatible APIs are generally available today.
It saw 61% of growth in Q2."This program is incredibly aggressive," said Scott Sinclair, senior analyst at Enterprise Strategy Group (ESG). The B2 division takes on S3 cloud storage offerings from Amazon. It has 500,000 subscription customers and will boost sales with these funds. Backblaze has two exabytes under storage. Backblaze went public for several reasons, opening up the company books to clients while proving its maturity with a technology play for the long haul. He added that the company has efficiently developed its reach and operations over the years. According to the company’s CEO & co-founder, Gleb Budman, investors were always eager for a company approaching a public listing while having raised a tiny sum of money to date. The company began in 2007 and issued $10 million sometime earlier through convertible notes. Twenty-one companies debuting in 2021 have valuations exceeding $10 billion.īackblaze got $3 million in funding from external investors along its journey. 100+ tech companies have already gone public in the USA. Backblaze has a market cap of $650 million in the micro-cap segment. They also increased by 12% again, taking the share price to $22.31. The company got $100 million in funding, with its shares rising by 24% afterward. They were $16.2 million for the period, according to reports. The company revenues were $59.9 million for the year, concluding on 30th June, with Q2 sales figures increasing by 17%. At the other end of the spectrum, Backblaze made news with another IPO. The market cap went past $105 billion for Rivian Automotive afterward, putting it ahead of General Motors and Ford. Yet, the company made headlines, raising almost $12 billion with an IPO. Rivian Automotive, a leading electric vehicle manufacturer, currently has negligible revenues.
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