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Storage

Backblze logoTMT Investments has invested $2.5M in to Backblaze with an agreement for more on the first anniversary of the transaction.

TMT Investments today announced it has acquired equity in Backblaze for an aggregate consideration of US$2,500,759. In addition, TMT Investments has agreed to acquire, on the first anniversary of the transaction, new and existing shares for an additional aggregate consideration of US$2,500,759. Definitive agreements for the transaction were entered into, and the transaction was completed, yesterday.

Backblaze offers a cloud backup service that backs up all data from Mac- or Windows-enabled computers. The Backblaze service has several pricing options and generally costs US$5 per month per computer for unlimited storage. When users lose data, they can restore a single file, a folder or all their data by downloading it from any web browser. For an additional fee, users can request a hard or flash drive with their data to be mailed to them.

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