Tableau Software rakes in $254 million on IPO: Time to advertise
SEATTLE, WA: Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.
Seattle-based Tableau Software Inc. provides software that helps businesses convert data into visual presentations.
The shares jumped $18.32, or 59 percent, to $49.32 with about a half-hour of trading to go in New York. Earlier, the company sold 5 million shares for $31 each and total proceeds of $155 million. Certain shareholders sold an additional 3.2 million shares at the same price for $99.2 million.
The shares are trading under the symbol “DATA.”
The offering’s underwriters – Goldman, Sachs & Co. and Morgan Stanley & Co. – have a 30-day option to buy up to 1.2 million more shares from Tableau, which would generate $38.1 million more in proceeds.