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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

May 15, 2013 at 4:15 PM

Tableau ups offering price to $31, trading begins Friday

It looks like Fremont-based Tableau Software’s stock will begin trading on Friday, with the excellent ticker symbol DATA.

Tableau and its bankers are visualizing lots of investor interest. Today they upped the estimated initial selling price of the company’s stock to $28 to $30, up from the $23 to $26 estimate that Tableau released on May 6.

UPDATE: They upped it again today, fixing the opening price at $31.

At $30, the offering would raise $248.4 million, according to the updated S1 report the company filed with the SEC. Tableau expects to net $132.3 million, if the stock is priced at $29. It will trade on the New York Stock Exchange, and Goldman Sachs and Morgan Stanley are the lead underwriters.

Tableau sells software tools and services that companies use to visualize and analyze data. It began with technology developed at Stanford University with research funded by the military and spun into a company in 2003.

The company has been on a tear lately, with sales of $127.7 million last year, up from $34 million in 2010. It’s been investing heavily, increasing research and development spending to $2.1 million last year, up from $628,000 the year before. Profit was $1.4 million last year, down from $3.4 million the year before.

Several financial news sites are reporting that the stock will begin trading Friday, after its offering price is finalized Thursday.

After analyzing this data, I’m visualizing lots of tech types Friday afternoon at Fremont Brewing. Or maybe across the canal at Canlis, depending on how things turn out.

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