On Friday, Tableau Software will start trading on the New York Stock Exchange and the road show has gone so well, that Tableau is pricing itself above its initial proposed range.
It will open at $31, up from a range of $28 to $30 announced earlier today. And that was up from $23 to $26 when the company filed its S1 form with the SEC last month.
Tableau is offering a total of $8.3 million shares, 5 million from Tableau and 3.2 million from its other stakeholders. At $30/share, Tableau would raise $248 million, according to documents filed with the SEC. It would have a market capitalisation of ~ $1.7 billion, reports Forbes’ Tomio Geron.
Tableau makes big data visualisation software. It takes massive amounts of data and turns it into graphs, charts, dashboards.
One of its cofounders is Pat Hanrahan, a big name in data science. He’s a computer science professor at Stanford University that won two Oscars when he worked at Pixar creating the movie studio’s groundbreaking graphics and CGI tech.
The other two cofounders, Christian Chabot and Chris Stolte, worked on a previous startup together, BeeLine Systems (acquired by Vicinity in 2000.)
Tableau’s major shareholder is New¬†Enterprise¬†Associates (lead by general partner Forest Baskett), which stands to make a bundle since it was a series A and B investor.