May 17, 2013 – Analytics and visualization vendor Tableau introduced itself to Wall Street on Friday by ringing the opening bell, and traders gave a high-value response.

Tableau introduced sales of 8.2 million shares of common stock at $31, though they started and spent much of the trading day in the $40-range before closing out at $50.75. Shares hit their peak of $52.12 in the final hour of trading.

Opting for the stock ticker symbol “DATA,” Tableau CEO and Co-founder Christian Chabot and other leaders and employees of the vendor rang the bell on the floor of the New York Stock Exchange to signify the start of the trading day. After the close of trading, Chabot said his takeaway from Wall Street’s roundly positive response to the IPO was the energy and potential around the broader use of analytics and visualization tools.

“I think it validates to some extent, the business intelligence industry ... will look nothing like it looks today in 10 years. There is a revolution in thinking on how companies should be thinking of their data and empowering their people,” Chabot said, who credited some of the attention in Friday’s IPO to “road show” presentations across the U.S. by Tableau over the last two weeks.

In the IPO, Tableau itself will offer 5 million of the shares, with the rest offered by certain selling stockholders, according to a company release. Underwriters have also been granted a 30-day option to purchase an additional 1.23 million shares of common stock from Tableau. Initial public offering share sales are set to bring Tableau between $155 million and $254 million, the biggest tech IPO since HR specialist Workday raised $730 million in October, according to data compiled by Bloomberg.

Chabot spoke broadly about the vendor’s plans with the new financial injection, pointing to expansion in EMEA markets, investing in R&D and hinting at “opportunistic” acquisitions, should they arise.

Based in Seattle, Tableau has spent much of 2013 beefing up its resume of customer use cases, particularly in health care and government, adding to its stable of customers that includes Allstate, the New York Times and the Department of Homeland Security. The vendor has scored attention and use from nonprofits and the open data community in the last few years with its Tableau Public tool, now in version 8.0.

Markets overall closed up Friday, including for another stock in the information management space, cloud marketing software provider Marketo, which closed around its anticipated $13-per-share mark.

(Note: This story was updated at 4:40 p.m. EST after the close of trading to update figures and add comment from Tableau CEO Christian Chabot.)

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access