Data visualization software company Tableau Software, going by the symbol “DATA,” will start trading tomorrow on the New York Stock Exchange at $31 per share, up from earlier today when the company said it would trade in the $28 to $30 range.
Tableau will offer 8.2 million shares of its Class A common stock, up from the 7.2 million it previously said it would offer. That puts the offering at $254 million with a market capitalization of more than $2 billion. Previously the company’s market cap was estimated at $1.7 billion.
The company, which filed its IPO in April, develops business intelligence software, including Tableau Desktop, Tableau Public, and Tableau Server and has about 10,000 customers.
It has established itself as one of the most feature-rich data visualization providers. It integrates with data warehouse platforms and with an extensive list of partners, including Google Cloud Platform, IBM and HP Vertica.
The IPO shows the value that enterprise software companies command. Palo Alto Networks and Splunk have had successful IPOs and a host of new deals are expected in the coming months. For example, Marketo, a marketing automation company, will also begin trading tomorrow on the Nasdaq scheduled in a $73 million IPO and a market capitalization of $429 million.