Tableau’s stock started with a bang. Click on image for real-time pricing.

Tableau Software is starting on the New York Stock Exchange today with a bang.

After pricing its initial public offering Thursday night at $31, the stock took off in early-morning trading. Shares jumped more than 50 percent, with the stock now trading at more than $47 per share.

Tableau, a Seattle-based maker of data visualization products, couldn’t have picked a better time to go public. The mood on Wall Street is positive, and there’s a hunger for fast-growing technology companies in the enterprise arena.

Christian Chabot (l) and Pat Hanrahan of Tableau Software
Christian Chabot (l) and Pat Hanrahan of Tableau Software

Tableau sold 8.2 million shares at $31, meaning the offering was worth about $254 million before expenses and other fees.

As we previously noted, Tableau is a bit of rarity since its three founders were able to retain 48 percent of the company at the time of the IPO. At current trading levels, that means the 15 percent stakes of CEO Christian Chabot and Chief Development Officer Chris Stolte are worth more than $365 million. Chief Scientist Patrick Hanrahan, who holds 18 percent of the company, is worth more than $435 million. The three founders also sold 400,000 shares each at the $31 offering price.

Tableau spun out of Stanford University, but it relocated to Seattle shortly after it was founded ten years ago. The company, which employed 749 people at the end of last year, posted revenues of $127.7 million last year. It was showed profits of $1.4 million in 2012, though it slipped to a $4 million net loss during the first quarter.

We’ll be tracking the progress of the IPO throughout the day, and plan to interview Chabot later this morning.

Follow-upQ&A with Tableau CEO Christian Chabot: ‘We’ve been working our whole lives to become an overnight success’

Here’s more from my chat with Chabot at the GeekWire Meetup in February in which he discussed the roots of Tableau and offered some advice to entrepreneurs.

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  • Extended Results Inc

    Go Tableau!

  • Matthew Reynolds

    Their underwriters priced it too low. Money that should have gone to Tableau’s liquid assets are now going to the investment bankers. While a 50% jump on the first day is impressive, the investors, employees and Venture Capitalists would have received the same share price if it had been set at $40 and gone up from there.

    • Seattle Startup

      Facebook burned bankers…big that regard. Wonder how many folks flipped shares on the market.

      • Guest

        ya, poor Goldman Sachs only dumping over $1,000,000,000 in shares at the IPO of FB, they totally got suckered. They totally should have held and then cashed out for 1/3 that.

  • Bill Bryant

    What a terrific day for the entire Seattle tech community ! If my math is correct, Tableau’s market cap is approaching $3B, putting it on par with Concur, Expedia, Zillow as a wealth creator for the region. Within the next year, I’d expect companies like Apptio, Zulilly, Inrix and Parallels to all test the IPO market, with valuations exceeding $1B. That’s an amazing amount of wealth and liquidity to inject into our ecosystem. Inevitably, we’ll see key employees of these companies decide to test the entrepreneurial waters, backed by co-worker angels. And the national VC community will be scrutinizing the market for the next Tableau et al.

    Congratulations, Tableau, and thank you for moving up from the Bay Area 10 years ago !

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