Tableau Software, the Seattle-based data visualization software company, joins the sparsely-populated ranks of tech start-ups that have gone public so far this year, pricing its stock at $31 per share for Friday's IPO.
Under these pricing terms, Tableau will have a market capitalization of $1.7 billion, Forbes reported. The company is offering up 5 million shares Friday, while stockholders are offering up 3.2 million, GigaOm reported. Shares will trade under the symbol "DATA" on the New York Stock Exchange, and co-founder and CEO Christian Chabot rang the opening bell this morning.
Tableau's first-quarter revenue in 2013 reached $40 million, up more than 60 percent from $24.7 million in the same period last year, Forbes reported. Even if pricing stays flat all day Friday, GigaOm's Derrick Harris wrote, the company stands to rake in $155 million from its 5 million shares.
The company has landed on the ranks of the Inc. 5000 for five consecutive years starting in 2008. That year, the company had $13.2 million in sales revenue which increased 373 percent to $62.4 million in 2011.
Tableau is the first Seattle-based tech company to go public since Zillow's public offering in July 2011, GeekWire reported.