Is Tableau Software taking steps towards an IPO?
After speaking with Fortune reporter Dan Primack, is Tableau Software (Seattle, WA. USA) taking more steps towards an IPO?
Primack was interviewing Scott Sandell, a partner at New Enterprise Associates, who are Tableau’s largest outside shareholder. Sandell is quoted as saying there are “‘board-level discussions’ about taking the company public next year, even though it has the numbers to go out now.” A PR fluff?
Tableau Software makes easy-to-use software that turns data into graphs and charts; making even the most complicated statistics easy to read and understand. It has been particularly successful as this area is traditionally seen as dry and stuffy and the domain of business intelligence data gathering and analytical reporting for large companies.
Christian Chabot, Tableau’s CEO has gone on record as saying that, “Tableau’s intention as part of its business plan is to be a big, independent, global, publicly traded company. I mean, there’s no doubt about that. This company is not for sale. … Our intention is to take the company public, and be a great public stock.”
It seems Tableau is in constant expansion. With a current 350 on its payroll worldwide, it plans to add another 300 people to its roster during 2012 as develops its international sales. Tableau continues to be profitable, with recent reports of near-doubling of sales bookings to $72 million in 2011.
Tableau also announced that it is appointing to its board software executive Brooke Seawell. He also is being named chairman of Tableau’s audit committee, a group that would be called upon to help get Tableau’s books in order for the public markets.
In the Press Release for Brooke Seawell, Tableau notes his “extensive experience in public company finance, accounting, governance and technology company operations.” Seawell is quoted as saying of Tableau: “It has the right team in place and will be well-positioned to go public when the timing and climate are appropriate.”