This discipline has served the company well in the past, as additional resources might even unleash some more growth, but that is to be seen.īesides the reasons mentioned above why customers turn to companies like Backblaze, there are a few other drivers behind the business success as well. To grow the business to this size is quite an accomplishment, certainly after the company only took $3 million of outside equity to date. In fact, Backblaze has signed up nearly half a million customers to date for its platform. By offering these services, reducing the complexity and frustration of storing data, customers turn to Backblaze. The company is a storage cloud platform to allow businesses and consumers to store, use and protect data in an easy and affordable manner. Data is rapidly becoming the most important asset to many customers, and it is the mission of Backblaze to help customers deal with all aspects of data easily. The header of this paragraph is the mission of the company. While the sales multiples look reasonable given this promise and this pace of growth, I am not impressed with the margins posted, as in fact some deleveraging is seen on this front in recent times. The topline sales growth has not been accompanied by operating leverage. While the company posts solid topline sales growth, I am much more impressed with the customer testimonials which I find. Backblaze ( NASDAQ: BLZE) has seen a very successful offering as the services offered by the company are in great demand with its customers.
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