Backblaze CEO Gleb Budman discusses unit economics and lifetime value calculations with host Nathan Latka.
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“So in, in rough numbers, a consumer is worth about 400 dollars in lifetime revenue to us.”
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More from Gleb Budman
Opinion
Bootstrapping Is Often a Better Path to IPO Than Venture Capital
“I think bootstrapping is actually, in many ways, a better way to get to be a public company.”
Gleb BudmanOct 5, 2023▶ 4:58How We Bootstrapped Backblaze from $0 to IPO and $87m in ARR
Opinion
Top Banks Assign C-Teams to $100M IPOs and Drop Them Quickly
“If you are you know, 50, 60, a hundred million dollars in, in revenue, and you're raising a hundred million dollars, those banks are going to give you the C team if you go with them, and they will drop you at the in a second, if they have a different opportuni…”
Gleb BudmanOct 5, 2023▶ 11:39How We Bootstrapped Backblaze from $0 to IPO and $87m in ARR
Insight
IPO 'Testing the Waters' Meetings Are High-Stakes Evaluations
“The testing the water is you're talking to investors, and when you talk to the investors, if those investors don't come back and tell the banks, hey, we're really excited about investing in this, the banks go, eh, I don't think that there's an IPO here to be d…”
Gleb BudmanOct 5, 2023▶ 15:36How We Bootstrapped Backblaze from $0 to IPO and $87m in ARR
AssertionSupported
Budman: Backblaze stores about half as much data as Dropbox
“And at this point we are storing about half as much data as Dropbox.”
Gleb BudmanNov 10, 2018▶ 8:211204 $30m ARR Cloud Backup Company Almost Bankrupt from Thailand Floods
Disclosure
Backblaze Founders Banned Pitching and Spreadsheets in Year One
“We said for one year, we're gonna do nothing in terms of venture funding. There's gonna be no PowerPoints. There's gonna be no, no spreadsheets. There's gonna be no pitches. Just focus on product, focus on customers, see how it goes.”
Gleb BudmanOct 5, 2023▶ 0:58How We Bootstrapped Backblaze from $0 to IPO and $87m in ARR
What-if
Venture Funding Would Have Prevented Backblaze From Building Custom Hardware
“If we had raised a whole bunch of venture funding, we probably would have done it and said, we'll figure it out later. Somehow we'll figure out how to make the math work. But we didn't have any money. So we had to start from first principles and figure out how…”
Gleb BudmanOct 5, 2023▶ 5:24How We Bootstrapped Backblaze from $0 to IPO and $87m in ARR
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