Backblaze: Operating Leverage And Revenue Explosion Incoming

2026-06-05 06:56:30 ET

The Setup: A Sleepy Storage Backup Company Morphing into a Key Neocloud Partner

Backblaze ( BLZE ) has an interesting history. Founded in 2007 in San Mateo , it spent its first years in an unglamorous legacy consumer business providing HDD computer backup for around $5–6 a month. The founders envisioned Backblaze as an Infrastructure-as-a-Service company with its own storage hardware consisting of exabytes of hard disk drives from companies like Seagate ( STX ), Western Digital ( WDC ), and Toshiba. Their legacy business would sell that capacity to companies seeking to back up key data without buying their own drives....

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