Stanford spin-out Tableau Software raises $254.2m in initial public offering.
Tableau Software, a Seattle-based big data analytics provider, has raised $254.2m in an IPO which saw the firm’s share price rise by 64%.
Trading on the New York Stock Exchange under the symbol DATA, the Stanford-backed firm sold 8.2 million shares at $31 each, above an initially predicted range of $23 and $26 (updated to $28 to $30 just prior to the floatation). Tableau also sold more shares than expected, beating predictions by 1.1m.
Venture firm New Enterprise Associates participated in two venture rounds with Tableau. In 2004, it invested $5m in a series A round, and $10m in a series B held in 2008. NEA sold 1 million shares during Tableau’s offering, while retaining 18.5m shares in the firm. After Friday, that equates to a stake of 37% at a value in excess of $900, according to news provider BizJournals.
Tableau grew out of research conducted at Stanford during 1997 and 2002, and was founded in 2003. Goldman, Sachs & Co. and Morgan Stanley & Co. LLC acted as lead joint book-running managers for the offering.
