![]() ![]() We provide advisory services, strategies, and solutions to meet our clients’ evolving needs. William Blair is the premier global boutique with expertise in investment banking, investment management, and private wealth management. On the Computer Backup side, Backblaze differentiates itself by offering unlimited backup, ultra-simple pricing, and ease of use.”Īder continued, “A crucial but often underappreciated aspect of the Backblaze story is that both the Computer Backup and B2 services are built on top of its proprietary Storage Cloud-a highly redundant, low-cost data center architecture that allows it to charge prices well below the competition yet maintain healthy gross margins.” ![]() To drive adoption, Backblaze provides free data transfers from S3 to B2 and is a founding member of the Bandwidth Alliance, a vendor group that discounts or waives data transfer fees for shared customers. From its roots as a cloud-based computer backup vendor for consumers and SMBs, the company has expanded into the high-growth cloud storage space, where its B2 service offers SMB and midmarket customers an alternative to AWS’s market-leading S3 service at one-quarter of the price. “In some respects, we see Backblaze as a pure-play on SMB cloud adoption,” Ader said, “with investors getting a high-growth, independent cloud storage platform supported by a cash-cow computer backup business that can also drive cross-selling opportunities. He expects top-line acceleration to be driven by the B2 cloud storage business growing as a percentage of total revenue (surpassing 50% by the end of 2023), given its much higher expected growth rate compared to the computer backup business. (BLZE $21.86), which provides cloud storage and computer backup services.Īnalyst Jason Ader estimated the company would generate total revenue growth of 23% in 2021 at $66.1 million, 26% in 2022 at $83.5 million, and 31% in 2023 at $109.8 million. William Blair initiated research coverage of Backblaze, Inc. ![]()
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