Tableau Software —coming off a blockbuster initial public offering last May — is now looking to raise even more money. The Seattle company announced Friday that it plans to raise up to $345 million through a stock offering of its class A shares.
In the most recent filing, it appears as if Tableau is looking to add to its war chest, which at the end of last year stood at $252 million in cash and cash equivalents. The company writes in a SEC filing:
The principal purposes of this offering are to increase our public float and financial flexibility. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering. However, we currently intend to use the net proceeds to us from this offering primarily for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters and capital expenditures.
We may also use a portion of the net proceeds from this offering for the acquisition of, or investment in, technologies, solutions or businesses that complement our business, although we have no present commitments or agreements to enter into any such acquisitions or investments. We will have broad discretion over the uses of the net proceeds from this offering.
The company is growing fast, recently announcing plans to take over the Sound Mind & Body gym in Seattle’s Fremont neighborhood near its headquarter. At the end of the 2013, it employed 1,212 people — a 62 percent growth rate in headcount year-over-year.
Traded on the New York Stock Exchange under the ticker DATA, Tableau now boasts a market value of $5.3 billion. It is now trading at just over $90 per share, nearly triple the IPO price of $31. The company showed a profit of $7 million last year on revenue of $232 million.
Interestingly, Tableau has never made an acquisition in it history. With the new cash and the cachet on Wall Street, could it be eyeing a target or two?