3 ms·
Not really. They've taken very little outside funding (mostly venture debt and a series A), and have been around for 10+ years. They'll likely get a better valu
by mbesto 5y ago
Not really. They've taken very little outside funding (mostly venture debt and a series A), and have been around for 10+ years. They'll likely get a better valuation from the public market than they would privately and the founders who have been waiting 10 years can take some money off of the table.
Smart move IMO.
- ramesh31 5y ago>They'll likely get a better valuation from the public market than they would privately and the founders who have been waiting 10 years can take some money off of the table. This is really all there is to it. You don't actually have to build a business anymore to get rich. You just put together something that looks like one, pay yourself a handsome salary for 10 years, then cash out and retire to New Zealand. Sweet gig if you can get it.
- mbesto 5y ago> Sweet gig if you can get it. Did you also start a business from the ground up and run it to the size that generates $50M in revenue? What exactly about Backblaze is a "sweet gig if you can get it"...achieving this is not trivial...
- ramesh31 5y ago>..achieving this is not trivial... Of course it's not. You need to have gone to the right school, made the right friends, be the right ethnicity/gender (white or asian male), and have access to the right VC. But given all that, it's a cakewalk.