Typically existing owners have been spending those sweet, sweet VC bucks that go on "growth hacking", and after an exit event the business switches to actually trying to make some money instead of pretending MAUs are better than money for whatever reason they like this week.
In the case of Backblaze they've only raised $5.3m over three rounds so that's unlikely. There wouldn't be much VC cash to hack growth with after 14 years.