Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Tableau Software and Marketo Fire Up IPO Action Today

rocket-flying-featureToday is going to be a busy day for tech IPOs. Two software companies are floating today, and there is a steady stream of IPO deals on the way behind them.

The bigger of today’s two is Tableau Software, which specializes in data visualization. Yesterday, the company announced that the shares priced at $31, raising north of $254 million in the process.

The company will be listing on the New York Stock Exchange with the ticker symbol DATA. Goldman Sachs and Morgan Stanley are running the deal. Credit Suisse, J.P. Morgan, UBS Investment Bank, BMO Capital Markets and JMP Securities are also underwriting.

Tableau’s biggest shareholder is the venture capital firm New Enterprise Associates, which led two investment rounds for a combined $15 million, the last being a $10 million series B in 2008 in a deal led by Forest Baskett. NEA’s stake amounted to about 37 percent before the sale, worth more than $607 million at the share offering price.

Founder and chief scientist Pat Hanrahan has about 18 percent of the company, worth about $295 million at the offering price. His co-founders — Christian Chabot, chairman and CEO, and Christopher Stolte, chief development officer — have about 15 percent each, with both stakes worth north of $235 million. Meritech Capital Partners has a stake amounting to about 6.5 percent, worth more than $102 million at the offering price.

The other one going today is Marketo, the cloud-based marketing software company. Market price yesterday was at $13 a share, raising almost $79 million. It will trade on the Nasdaq under the symbol MKTO.

Goldman Sachs and Credit Suisse are leading the offering. UBS, Canaccord Genuity, Raymond James and JMP Securities are also underwriting.

Marketo’s biggest shareholder is InterWest Partners, which prior to the sale had a 33.3 percent stake worth more than $302 million. Storm Ventures has a stake of a little more than 17 percent, worth $66 million. Battery Ventures, which led a $50 million Series F in 2011, has a 7 percent stake, worth about $28 million.

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Nobody was excited about paying top dollar for a movie about WikiLeaks. A film about the origins of would have done better.

— Gitesh Pandya of comments on the dreadful opening weekend box office numbers for “The Fifth Estate.”