tableauonlineTableau Software is growing fast, thanks in some part to a new cloud-based solution that has become the company’s fastest-selling product.

The Seattle-based maker of data visualization software now has 1,000 customers using Tableau Online, a hosted version of Tableau Server that was released nine months ago and allows users to analyze data in the cloud without hardware or other infrastructure.

Tableau co-founder Chris Stolte noted that the rapid adoption of Tableau Online, which costs $500 per user per year, shows a strong market for business intelligence in the cloud.

“People are discovering that cloud analytics can be the fastest way to get everyone in a company making better data driven decisions today,” Stolte said in a statement.

Tableau, coming off a blockbuster initial public offering last May, is now looking to raise even more money. The company also recently announced plans to take over the Sound Mind & Body gym in Seattle’s Fremont neighborhood near its headquarters. At the end of the 2013, it employed 1,212 people — a 62 percent growth rate in headcount year-over-year — and showed a profit of $7 million last year on revenue of $232 million.

Traded on the New York Stock Exchange under the ticker DATA, Tableau hit the $100 per share mark in late February, but has seen its stock price dip a bit in the last few months. It is now trading at just over $70 per share, more than double the IPO price of $31, while boasting a market value of $4.4 billion. 

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Comments

  • Slaggggg

    Seriously how do these guys not have competitors? You could create a “Good enough” competitive offering fairly directly. Tableau charges $2k a seat … someone needs to do the 20% of features people actually use for $200 a seat. Why hasn’t this happened yet.

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