Tech Company Tableau Software Goes Public
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.
JULIE STRICKLAND covers start-ups, small businesses, and entrepreneurial endeavors of all kinds for Inc. Her work has been published in Brooklyn Based and City Limits in New York, the Free Times in Columbia, SC, Real Travel Magazine in London, and Daegu Pockets in South Korea. She lives in New York City.
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