Yeah, what gives? I remember they prided themselves on being profitable, self-funded and not beholden to VCs. Grotesque that they reserve the right to snoop right through your files unless you first encrypt them externally via third party apps. Overall, zero knowledge backup is the best route, Backblaze plays at that, on the other hand I wouldn't touch any backup offering by Google with a 10 meter cattle prod. On the other hand, iDrive has been offering a whopping 5 terabytes for a whole year for just $3.98 in a deal I saw just a few days ago. SpiderOak offers 400GB for less than that and so does Nordlocker (though Nord has its own problems). Also, the interface of deselecting things to not back up via exclusions, instead of simply being able to specifically select what you WANT to back up is absurd, it complicates things unnecessarily if out of dozens of folders, you only want to select a few essentials for cloud storage.Īs far as pricing goes, $5 per month for 100GB seems steep. Seems arbitrarily forceful to me, though the pricing and security options are good. I tried Backblaze but couldn't get over its insistence on first backing up my entire primary hard drive instead of allowing me to simply choose directly my most important files in my external drives, or from wherever I prefer. That is after depreciation mark-down of 5% annual failure rate and others <1% for the same price) nearly 10 years ago come around to s1. You can see this by looking at reported Total Assets increasing from $38M in 2019 to $54M in 2020. Once you purchase a hard drive and place it in a network-connected server, it will cost a few pennies each month to keep it spinning while it will generate revenue for 5 years (or more) after. It is entirely intentional and desirable for any gross margins to go fully back into growth or assets to support growth - especially in the cloud game where infrastructure costs and R&D are high and front-loaded.

I think if you consider the increase in assets (total value of the # of servers, racks, network gear etc) from the purchase of hardware to accommodate that growth, in order to satisfy those revenues and future revenues, it makes sense.

Cloud backblaze thursday 100m ipo