Dive Brief:
- Big Data integration software company Talend filed to raise $94.5 million in an initial public offering Friday, trading on the Nasdaq as TLND.
- The company priced its IPO at $18 per share, for 5.25 million shares. The original filings initially priced the the company at $86 million, between $15-$17 per share.
- Talend, a 10-year-old company, is based in Redwood City, Calif. and employs more than 500 people.
Dive Insight:
Confetti dropped for Talend this morning as it became the fifth tech company to go public in 2016.
.@NASDAQ is now open. Say hello to #TLND!
— Talend (@Talend) July 29, 2016
Watch LIVE at https://t.co/QJGmW8AWGO pic.twitter.com/xHpajPM2Bp
Cloud company Twilio just went public as well. The two back-to-back IPOs may signal some long-anticipated momentum for up-and-coming tech companies.
Talend makes open-source software that helps businesses manage, integrate and analyze their data. The company’s customers include AOL, Citi, GE Healthcare, Groupon, Lenovo, Orange, Sky, and Sony. Competitors include Informatica and Tibco.
Talend generated $75.96 million in revenue in 2015, up 21% year over year, according to the company’s SEC filing.
Before Twilio and Talend, there were just three tech IPOs so far in 2016. Investors have been standoffish on tech startups after many of them reached values that seemed far out of line with the rest of the market. Other startups are now hoping Twilio and Talend will help boost interest in tech IPOs.
