On Monday, Backblaze, a company that offers cloud object storage, filed to go public on the Nasdaq. Backblaze stock would trade under the ticker symbol "BLZE."
- Backblaze's main product, B2 object storage, aims to compete with Amazon's S3 service. According to the company, B2 costs 76% less and has 80% fewer download fees than S3.
- Analysts estimate the lower pricing on cloud object storage leads to a gross margin of 50%. The company reported a $2.4M loss in Q2, while its revenue rose 24% YoY.
- Last month, Cloudflare announced a similar offering for object storage, named R2. It claims to reduce egress fees by 10%.