SAN MATEO, Calif. - Backblaze, Inc. (NASDAQ:BLZE), a specialized storage cloud provider, introduced "Powered by Backblaze" today, a new program designed to enable businesses to integrate cloud storage into their services with greater ease. The program targets independent software vendors, technology partners, and other companies, with the aim of simplifying the process of offering cloud storage to their customers, thus allowing them to concentrate on customer success and revenue growth.
The CEO of Backblaze, Gleb Budman, emphasized the program's capacity to allow companies to leverage Backblaze's cloud without the need to invest in their own infrastructure. "Powered by Backblaze offers companies the ability to deliver the value of our cloud to their customers without the complexity of building their own high performance infrastructure," Budman stated.
The program, which is available starting today, introduces two key features: Custom Domains and the Backblaze Partner API. Custom Domains allows businesses to serve content from their chosen web domain, simplifying the process of linking their branded user experience with Backblaze's backend cloud storage capabilities. Rafael Umann, CEO of Azion, highlighted the benefits of this feature, noting that it enables them to provide a more secure and improved user experience.
The Backblaze Partner API is designed to facilitate the creation and management of Backblaze B2 Cloud Storage accounts within a company's own platform. This feature offers organizations the tools to manage accounts, generate reports, and create a bundled solution. Murad Mordukhay, CEO at Qencode, praised the API for allowing them to expand their services and reduce complexity for their customers.
Backblaze, founded in 2007 and headquartered in San Mateo, CA, manages over three billion gigabytes of data storage and serves more than 500,000 customers across over 175 countries.
This announcement is based on a press release statement from Backblaze.
InvestingPro Insights
As Backblaze, Inc. (NASDAQ:BLZE) continues to innovate and expand its offerings with the "Powered by Backblaze" program, investors are keeping a close watch on the company's financial health and market performance. According to InvestingPro data, Backblaze has a market capitalization of $315.84 million, reflecting its position in the competitive cloud storage market. Despite operating with a moderate level of debt, the company's Price / Book ratio over the last twelve months as of Q3 2023 stands at a high 6.67, indicating a substantial market valuation relative to its book value.
While the company has shown a commendable revenue growth of 18.88% over the last twelve months as of Q3 2023, it is still navigating through profitability challenges. The most recent figures reveal that Backblaze is not expected to be profitable this year, as mirrored by its negative P/E Ratio of -4.05. This is further underscored by a negative operating income margin of -58.42% for the same period.
However, investors may find optimism in the company's recent market performance. Backblaze has experienced a strong return over the last month of 20.17% and even more impressive returns over the last three months and six months, at 55.27% and 64.06%, respectively. These figures could suggest growing investor confidence in the company's strategic initiatives and future prospects.
InvestingPro Tips provide additional insights into Backblaze's financial state and future outlook. Notably, three analysts have revised their earnings upwards for the upcoming period, which could signal anticipated improvement in the company's financial performance. On the other hand, it's important to note that Backblaze's short-term obligations exceed its liquid assets, which could pose liquidity risks. For investors seeking a deeper dive into these metrics and additional insights, there are 11 more InvestingPro Tips available on the platform. Interested readers can use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription.
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