Talend makes Wall Street debut, raising $94.5 million
Data integration provider Talend went public today in what has been a quiet IPO season for tech startups. So far, the Redwood City, Calif.-based company is a hit with investors.
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Talend opened trading at $27.66 a share -- a 53 percent pop after originally pricing 5.25 million shares at $18 a piece on Thursday -- raising $94.5 million. The stock is trading on the Nasdaq under the ticker symbol TLND.
Talend sells software that helps companies access and collect data from disparate sources -- such as sensors, social media streams or other business software -- and then clean and organize that data so it can be used inside other analytic systems like Hadoop and Spark. The Redwood City, Calif.-based company claims more than 1,300 customers, including Air France, Citi, and General Electric.
Last year, Talend generated a total revenue of $76 million, with subscription revenues contributing roughly $62 million. While the company isn't profitable -- it reported a net loss of $22 million for 2015 -- Talend CMO Ashley Stirrup said being cash-flow positive helped bolster the decision to go public in a challenging investor climate.
Beyond its steady revenue, Stirrup said Talend is focused on specific disruptions in the data market that will propel the company for the long term. As such, Talend works to tailor its platform around cloud, self-service and real-time data technologies.
Talend competes with a number of companies in the data integration space, including Informatica, Oracle and IBM, however Stirrup said "none of them have done a great job keeping up with the industry."
Still, Talend CEO Mike Tuchen cautioned that the company is still in its "early days."
"Today is an important milestone which became possible, in part, because of our singular focus on enabling organizations of all types to become data driven - an increasingly necessary skill in a world where data has become a strategic asset," he said in a statement. "As notable as today's milestone is though, we are still in the early days of our journey."