After a brief pause, Tech IPO’s are back again. Today two software companies will come out with their offerings, and in the days ahead we can expect a flurry of IPO’s from tech companies.
1. Tableau Software
Tableau Software, Inc. (NYSE:DATA)’s IPO will be the biggest one today. Tableau Software, Inc. (NYSE:DATA), specializing in data visualization, revealed yesterday that the share will be priced at $31, and it expects to raise more than $254 million in the process. The shares of the company will have the ticker symbol as DATA and will be listed on New York Stock Exchange. For Tableau Software, Inc. (NYSE:DATA), the IPO will be handled by Goldman Sachs Group, Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS) while Credit Suisse Group AG (NYSE:CS), JPMorgan Chase & Co. (NYSE:JPM), UBS Investment Bank, BMO Capital Markets and JMP Securities will act as underwriters.
Venture capital firm New Enterprise Associates (NEA) is Tableau Software, Inc. (NYSE:DATA)’s biggest shareholder with investments of $15 million in two rounds, the latest one being in 2008 of $10 million. Before the sale, NEA owned about 37 percent stake worth more than $607 million at the share offering price. Another investor, Meritech Capital Partners, holds about 6.5 percent in the company worth around than $102 million at the offering price.
Pat Hanrahan, founder and chief scientist, owns about 18 percent stake worth around $295 million at the offering price. Co-founders — Christian Chabot, chairman and CEO, and Christopher Stolte, chief development officer hold 15 percent each worth over $235 million.
The other IPO today will be from a cloud-based marketing software firm, Marketo Inc (NASDAQ:MKTO). The company will be listed on NASDAQ with a ticker symbol of MKTO.
Goldman Sachs and Credit Suisse will be handling the process while UBS, Canaccord Genuity, Raymond James and JMP Securities will be underwriters.
InterWest Partners are the largest shareholders of Marketo Inc (NASDAQ:MKTO), which held 33.3 percent stake worth more than $302 million, prior to the sale. Storm Ventures owns about 17 percent stake in the firm valued at $66 million while Battery Ventures owns 7 percent stake worth about $28 million.
A Historical Day
The day also marks an anniversary for the much hyped and finally botched IPO of the social networking giant, Facebook Inc (NASDAQ:FB). On May 18, 2012, shares of the company hit an intraday high of $45 but closed at $38.23, and kept falling after that, until recently. Last year in September, stock closed at an all-time low of $17.73. Accepting the ‘disappointing’ performance, CEO and founder Mark Zuckerberg told that the company is working on its mobile problem, and will soon be back on the growth track. The new focus towards mobile has helped a company a bit and the stocks have reacted positively to the changed strategy. Though the stocks have moved up following the latest earnings results from the company, but still they are 30 percent below the IPO price.