Plus, existing customers more consistently stick with B2 than with backup, and B2 has higher annual average revenue per user. But B2 revenue grew 60% year over year in the first half of 2021, while the online backup business grew 12% during the same period.
Less than one-third of Backblaze's revenue comes from B2. Amazon S3 enjoys a gross margin percentage in the low 50s, according to one analyst's estimate, while Backblaze, with its lower object-storage pricing, has an overall gross margin of 50%. The Backblaze website says data storage from the B2 service costs 76% less than AWS' S3 storage service, with 80% less expensive data download fees. However, Backblaze's B2 cloud storage service has won adoption from some small organizations, such as American Public Television, the nonprofit Gladstone Institutes and California's Kings County. In 2016 the company entered the market of object storage, going up against some of the world's largest companies, including Amazon, Google and Microsoft, which offer cloud computing services to companies, schools and governments.īackblaze, based in San Mateo, Calif., hasn't exactly won over the biggest cloud storage customers of Amazon Web Services. "These public cloud vendors have increasingly focused on the largest enterprises, resulting in significant complexity in their products and pricing that leaves behind mid-market businesses"įollowing its establishment in 2007, Backblaze in 2008 released online backup services for PCs running Apple's MacOS and Microsoft Windows, and the company grew by focusing on that one product. "The market is demanding alternatives to the traditional, diversified public cloud vendors for multiple reasons," Backblaze said in its IPO prospectus. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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