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• #CLOUD BACKBLAZE THURSDAY FRIDAY IPO SOFTWARE#

The average Lulu’s customer is a woman in her mid- to late 20s who is “dialed into own personal aesthetic,” he said. The company began dabbling with digital in 2005 but didn’t transition to a pure online business until 2008, he said. Lulu’s is an e-commerce retailer that sells products like apparel, shoes, and accessories directly to consumers. It was founded in 1996 as a consignment vintage shop in Chico, Calif., with a $10,000 investment, said CEO David McCreight, who spoke to Barron’s before the stock began trading. Lulu’s raised $92 million after selling 5.75 million shares at $16, the bottom of its $16 to $19 range. The stock launched at $14.05 and ended at $13.06, off more than 18% from its offer price.

(LVLU), the other e-commerce company, was down more than 20%. Kidpik provides mix-and-match outfits for children that are delivered in a box every four, six, or 12 weeks. Late Wednesday, Kidpik sold 2.1 million shares at $8.50, up from the 1.7 million shares at $8 to $10 it had planned to offer. (PIK), a subscription-based e-commerce company, opened at $9.99 and fell to a low of $8.09 before rebounding.

#CLOUD BACKBLAZE THURSDAY FRIDAY IPO SOFTWARE#

Weave provides cloud-based software that helps small and medium sized businesses modernize and personalize communications with their customers. Late Wednesday, Weave sold 5 million shares at $24, below its $25 to $28 price range. Weave’s stock opened at $21.80 and closed at $18.79, down nearly 22%. This makes Weave a broken IPO. (WEAV) didn’t share Blackblaze’s and Vaxxinity’s fortune. Late Wednesday, Backblaze raised $100 million after selling 6.25 million shares at $16 each, the middle of its $15 to $17 price range. Customers include Good Eats, American Public Television, and Gladstone Institutes. (BLZE) also gained. Shares kicked off at $19 and ended at $19.90, up over 24% from its offer price.īackblaze provides a cloud-storage platform for more than 480,000 businesses and consumers. Vaxxinity is developing therapeutics to treat chronic diseases like Alzheimer’s disease, Parkinson’s disease, migraines, and hypercholesterolemia, a prospectus said. The biotech had offered 6.7 million shares at $14 to $16, but ended up selling 6 million shares at $13. The strong debut came after Vaxxinity slashed the size of its IPO, which priced below its expected range. The stock opened at $16.90 and closed at $16.55, up $3.55 from its IPO price. (VAXX), which saw its shares rise more than 27% in the aftermarket, turned in the best first-day performance of Thursday’s group. The company will list its stock on the Nasdaq under the symbol "BLZE", according to a filing.The six companies that began trading Thursday includeĪ cloud storage platform Weave Communications, which provides communications and payments for small- and medium-size businesses Winc, an online wine seller Vaxxinity, a biotech firm and Lulu’s Fashion Lounge Holdings and Kidpik, both e-commerce companies.

Oppenheimer & Co, William Blair and Raymond James are the lead underwriters on Backblaze's offering. In the cloud storage space, it competes with the likes of Inc's Amazon Web Services, although Backblaze targets smaller companies.Īccording to a report by Research and Markets, the global market for cloud computing services is projected to reach a revised size of $937.5 billion by 2027, growing at a compound annual rate of 17% over the seven years since 2020. It has since expanded into cloud storage, with over half a million overall customers across more than 175 countries. San Mateo, California-based Backblaze, led by co-founder Gleb Budman, started in 2007 selling backup software to consumers and companies. Reported in November that Backblaze was seeking to hire investment banks for a 2021 IPO that could value it at around $1 billion. initial public offering (IPO) on Monday, cashing in on growing demand for cloud computing from businesses expanding their digital offerings during the COVID-19 pandemic. Cloud storage provider Backblaze Inc filed for a U.S.