Jun. 5 at 8:34 AM
$BLZE
ceo Gleb Budman:
"For many years we were providing a service that was called backup in nature, small business-focused in nature. Even when we went public in 2021, our average customer paid us
$500 a year. On our last earnings call we talked about a customer that signed a contract for over
$15 million. And that's an initial contract, not a total opportunity capture. That's a 'land' before an 'expand.'
The market perception of Backblaze in some ways hasn't caught up with the reality -- and certainly not with the opportunity. The good news about having half a million existing customers and being around for 20 years is there is a certain level of awareness for the company; the bad news about that is, that perception is tied to the rearview mirror, not today and not the future...
Just the infrastructure as a service storage market alone had been forecast to be approaching
$100 billion, but that was not fully accounting for the all of the AI impact in the future."
