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      Did Anything Boost Backblaze (BLZE) Stock Extended Trading?

      By Fahim Awan

      Published on

      November 30, 2023

      6:43 AM UTC

      Did Anything Boost Backblaze (BLZE) Stock Extended Trading?

      Backblaze, Inc. (NASDAQ: BLZE) shares demonstrated a persistent uptrend during the after-market trading session on Wednesday. Experiencing a notable surge of 4.43%, Backblaze stock reached $7.55 in the extended trading period, building upon its earlier 3.43% increase in the regular session, concluding at $7.23. This positive momentum in BLZE stock was precipitated by the company’s strategic endeavors in colocation and connectivity.

      In the latest development, Backblaze (BLZE) formally disclosed its decision to capitalize on CoreSite’s colocation and connectivity solutions. Distinguished as a specialized cloud storage platform provider, Backblaze has chosen CoreSite, a subsidiary of the American Tower Corporation and a leading provider of hybrid IT solutions, for this purpose.

      Backblaze currently manages an impressive three billion gigabytes of data capacity, catering to over 500,000 customers across more than 175 countries. The company’s cloud storage platform is meticulously crafted to facilitate businesses, developers, IT professionals, and individuals in building applications, hosting content, managing media, and securely backing up and archiving data.

      While Backblaze utilizes multiple data centers globally, the strategic decision, announced in December 2022, to designate CoreSite as its colocation and connectivity partner for the expanded service in the eastern U.S. data region is noteworthy. This infrastructure expansion not only enriches Backblaze’s cloud storage offerings but also fortifies data resilience for its clientele.

      The CoreSite data center located in Reston, Virginia (VA2), serves as an optimal East Coast location, providing Backblaze with enhanced geographic diversity and contributing an exabyte of capacity to meet the growing needs of its customer base. Ensuring operational integrity and safeguarding customer data, VA2 boasts redundant infrastructure and robust security measures.

      Furthermore, CoreSite extends valuable on-net carriers required by BLZE, along with native cloud onramps that enable Backblaze customers to seamlessly replicate their data from hyperscale cloud providers, including AWS and its Amazon S3 platform, to the Backblaze platform without incurring egress fees.

      CoreSite’s collaboration has played a pivotal role in facilitating Backblaze’s swift deployment of its suite of cloud storage products to East Coast customers. This partnership also ensures seamless integration with Backblaze’s network and public cloud partners through the CoreSite Open Cloud Exchange, further enhancing the overall efficiency of their operations.

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