Tableau Software, the fast-growing 10-year-old Seattle company which helps businesses and organization make better sense of their data, has set terms for its upcoming initial public offering, telling investors that it plans to sell 7.2 million shares at between $23 and $26 per share.
At the $24.50 mid-point of that range, Tableau could raise $111.4 million after deducting fees and other expenses related to the offering. It plans to trade on The New York Stock Exchange under the ticker symbol “DATA,” with the money to be used for general corporate purposes and possible acquisitions.
Last month, Tableau updated its IPO prospectus to show fast-growing sales of $40 million in the first quarter, a 62 percent increase from $24.6 million for the same period last year. However, the company also slipped to a net loss of $3.7 million during the quarter, though it did show a profit for the full year of 2012. It had more than 10,000 customers as of March 31.
Tableau is looking to become the first Seattle area tech company to go public since Zillow’s public offering in July 2011.
Previously on GeekWire: Perseverance and patience: How Tableau made the IPO leap after 10 years
Editor’s note: Tableau Software is an annual sponsor of GeekWire.