Tableau Software, Inc. (DATA) Stock Price Surges Over 50% In Public Debut

Posted May 17, 2013

Yesterday Tableau Software, Inc. (NYSE:DATA) boosted their proposed price for their initial public offering.  The company went public today on the New York Stock Exchange with the symbol “DATA.”  The company priced their shares at $31.  As of the time that I am writing this, the stock price is trading at over $17 from the opening price at about $48.81.  The company offered five million shares and stockholders are offering 3.2 million shares.  This is the biggest tech IPO for the year as it values the company at over $1.5 billion.  The offering will bring in $254 million before expenses and other fees.

Tableau was founded by Christian Chabot, Chris Stolte, and Patrick Hanrahan.  The three founders own 48% of Tableau’s shares.  Here is a breakdown of how much the founders will be worth after the IPO, according to Geekwire:
– Christian Chabot – $248 million
– Chris Stolte – $250 million
– Patrick Hanrahan – $295 million

Based in Seattle, Tableau helps businesses and companies make sense of “big data” through data visualization products.  Some of the companies that work with Tableau include SpaceX, Cleveland Clinic, John Hopkins Hospital, Citigroup, TD Bank, Fannie Mae, Goldman Sachs, Deloitte, Esurance, Bloomberg, etc.

This is the first time that a tech company in Seattle went public since July 2011.  Initially the company was planning to go public at between $23 and $26 per share.

New Enterprise Associates and Meritech Capital will see massive returns in their investment in Tableau.  New Enterprise Associates alone may see over a 20X return from their investment in Tableau.  Tableau invested around $29 million in Tableau over the last few years, giving them a 37% stake, which will now be worth over $586 million.  Meritech Capital owns 6.3% of Tableau, which will be worth over $99 million.