Targeted Tableau Software IPO Price Would Value Company at up to $1.5B
Tableau Software, the Seattle data visualization company, is aiming to offer 7.2 million shares of stock for sale to the public at between $23 and $26 a share, valuing the company at nearly $1.5 billion on the high end.
Tableau would raise about $111.4 million at a midpoint offering price of $24.50, net of discounts, commissions, and offering expenses, according to an SEC filing.
The offering includes 5 million shares offered by the company; 400,000 shares to be sold by each of three co-founders and executives Christian Chabot, Christopher Stolte, and Patrick Hanrahan; 1 million shares to be sold by New Enterprise Associates, which invested $15 million in the company in 2004 and 2008. There is also an over-allotment allowance of 1.08 million shares available for purchase by underwriters Goldman Sachs, Morgan Stanley, Credit Suisse, J.P. Morgan, UBS Investment Bank, and BMO Capital Markets.
Tableau shares would trade on the New York Stock Exchange under the ticker symbol “DATA”.
Tableau would have 57,514,508 shares outstanding after the IPO.
The company had first quarter revenue of $40 million, up 62 percent from the year earlier, but posted a $3.7 million loss. Operating expenses more than doubled in the quarter as Tableau is rapidly growing its staff.
Tableau’s much-anticipated IPO filing became public in early April.