Article says they're losing customers to Wasabi, but as far as I can see on a quick perusal of their website, Wasabi is just straight storage? For me, a lot of the benefit of Backblaze comes from a (mostly) good client solution that handles the automated backup. The backup history upsell is also great for someone (like me) whose travel patterns often mean going months without reliable internet.
I know I could use some open source stuff to get similar functionality, but I feel almost as nervous rolling my own backup as I would rolling my own crypto. Does Wasabi have some client solution that I'm missing?
As a customer do I need to worry? It is my favourite cheapo backup.
Totally an aside but is Morpheus what happened to the Hindenburg Research guys after the founder of that stepped away? The site is eerily similar and the timing makes sense. I loved reading Hindenburg’s research.
Well if they go out of business where the hell am I going to get my hard drive statistics from? ;D
> While Budman claimed that he wanted to avoid any appearance of trying to “time the market,” he appears to have done so nearly perfectly, as Backblaze’s shares crashed by as much as 26% intraday following the announcement and have continued to slide ever since.[5]
Doesn’t that seem like insider trading? I guess he can claim he didn’t know so and so was going to quit.
Very happy with their B2 storage. Easy to use, works well, prices fine. I use it as a backup target for several of my Synology NAS's. I hope they stay in business
Wasabi a more known brand than Backblaze in the storage space? Doubt!
Moved to wasabi from their s3-like b2 product because it was so utterly unreliable. Pretty wild list of things if true.
Morpheus Research should look at Fastly next.
Can anyone recommend a decent Backblaze alternative in case things really go south? Not so much for storage but for the automated computer backups that I have Backblaze doing. I'm okay paying more than Backblaze's $9/month.
Who are the players in the “s3 compatible but cheaper than AWS” space?
- Wasabi
- idrive
Who else?
> Initial Disclosure: After extensive research, we believe the evidence justifies a short position in shares of Backblaze (NASDAQ: BLZE). Morpheus Research holds short positions in BLZE, and Morpheus Research may profit from short positions held by others. This report represents our opinion, and we encourage all readers to do their own due diligence. Please see our full disclaimer at the bottom of the report.
Although I appreciate that they included this, I can't help but feel it would have been more apparent if this statement had been included before the bullet points of the article. By the point I saw that statement, I had already formed an opinion on Backblaze. Although I am not saying Morpheus has done anything inherently dishonest, I do think the placement was intentional, and that it would have served the readership better if it had been the first thing that readers see.
From the article (TLDR: the author has a financial interest in seeing their stock decline)
> Initial Disclosure: After extensive research, we believe the evidence justifies a short position in shares of Backblaze (NASDAQ: BLZE). Morpheus Research holds short positions in BLZE, and Morpheus Research may profit from short positions held by others. This report represents our opinion, and we encourage all readers to do their own due diligence. Please see our full disclaimer at the bottom of the report.
sigh...literally just recommended it to a family member as the simple option
I think Backblazes pricing model is unsustainable and expect them (and any competitors who mimic their model) to eventually fail when the money runs out. Racks and racks of disk drives use a lot of power and cost a lot to keep running. A better model would be storage based on tape; one of those large tape libraries (e.g. iceberg) with nearline disk space. Most of the data that gets uploaded never gets accessed, so keeping it on tape instead of spinning rust makes sense. Sure, there’s tradeoffs, but imagine how much they’d save if they could downsize their data center spending by 90%.
ugh backblaze was great alt to S3 the heroku of storage for a while, used them often few years ago
Short-seller writes disparaging article to move market, news at 11.
(At least they disclose it at the bottom, but it should be in the title.)
tl;dr
this is activist short seller report/investigation, some of the points made:
- never been profitable
- execs selling aggressively
- loosing customers to Wasabi
- accused of cooking the books
- being sued by former execs for anti whistleblower/wrongful termination
- execs leaving
None of this really shook my faith in Backblaze being able to recover until I got to this part:
> Instead, Backblaze’s new CFO, Marc Suidan, joined from Beachbody (NYSE: BODI), a multi-level marketing company
eek