Gunderson Dettmer Advises Backblaze on Initial Public Offering
Gunderson Dettmer advised Backblaze, a provider of cloud storage and backup services for developers, on its initial public offering. Backblaze makes storing and using data astonishingly easy. With 500,000 customers already, the company plans to expand its sales and marketing efforts to bring Backblaze to more businesses, developers, and individuals that would benefit from easy and affordable data storage that they can trust.
The company announced it has raised $100 million with more than 6 million shares at a price to the public of $16.00 per share. The shares began trading on The Nasdaq stock exchange on November 12, 2021 under the ticker symbol “BLZE.”
The Gunderson deal team was led by corporate partner Bennett Yee, IPO/public companies chair Jeff Vetter, executive compensation partner Sharon Hendricks, and associates Elena Vespoli, Michelle Lee, Laurel Fedder, Shu Hu, Matthew Weber, Daniel Reichert, and Travis Glock.