N-gated Hacker NewsAh, #Backblaze, the #cloud #storage wunderkind 🤡, where the only thing stored is their ever-growing pile of #lawsuits 📚 and "creative" accounting practices 🤥. Meanwhile, insiders are doing their best impression of a fire sale 🚪🏃💨, while investors are left clouded in confusion.
https://www.morpheus-research.com/backblaze/ #CreativeAccounting #InsiderConfusion #FireSale #HackerNews #ngated
https://www.morpheus-research.com/backblaze/ #CreativeAccounting #InsiderConfusion #FireSale #HackerNews #ngated
Backblaze: A Loss-Making Data Storage Business Mired in Lawsuits, Sham Accounting, and Brazen Insider Dumping
Summary * Backblaze (NASDAQ:BLZE) is a $250 million cloud storage and backup solution provider based in California that operates through two business segments: B2 Cloud Storage allowing “customers to store data” and “developers to build applications,” and Computer Backup that “automatically backs up data” from devices for “virtually unlimited” storage.