Hortonworks prices IPO up to $14 per share; will debut on Nasdaq

The open source purveyor announced a few very important bits of news related to its imminent Wall Street debut.
Written by Rachel King, Contributor

Hortonworks announced a special price today, although it's not quite Cyber Monday-related.

The open source purveyor announced a few very important bits of news related to its imminent Wall Street debut.

According to an amendment to its S-1 filed with the U.S. Securities and Exchange Commission on Monday, Hortonworks will be trading on the Nasdaq stock exchange under the ticker symbol "HDP" with an initial public offering currently estimated to fall between $12 and $14 per share.

All of the 6,000,000 shares of common stock are being sold by the company.

The Palo Alto, Calif.-based company first submitted its S-1 in November with minimal details.

As demonstrated by other major recent tech IPOs, such as Twitter's IPO filing last September or the still pending Box debut, a company seeking to go public can file confidentially if it is valued at less than $1 billion, under the Jumpstart Our Businesses ACT, a.k.a. the JOBS act.

Goldman, Sachs & Co. and Credit Suisse Securities will act as joint lead book-running managers for the offering with RBC Capital Markets as book-running manager. Pacific Crest Securities, Wells Fargo Securities and Blackstone Capital Markets have been tapped as co-managers.

Founded in 2011, the business software vendor had raised upwards of $248 million in its last five funding rounds, according to the company's CrunchBase profile.

Hortonworks's enterprise platform was also established with help from "a core team of Hadoop developers and engineers" at Yahoo with the goal of expanding upon the early technology developed by Yahoo in Hadoop.

During the last three years, Hortonworks has attracted attention from many large tech stalwarts. In July, Hewlett-Packard boasted a $50 million investment as part of a broad integration pact aimed at big data analytics customers.

Hortonworks has collaborated on a slew of integrations in the last two years as Hadoop continues to pick up steam in managing massive amounts of big data. Those deals have included partnerships with EMC's Pivotal Initiative, BMC Software, Red Hat, and Accenture.

Hortonworks has also been scaling on its own through acquisitions, such as the purchase of one year old startup XA Secure in May for the purpose of developing a more comprehensive approach to Hadoop security.

As of September 30, 2014, Hortonworks affirmed it had 233 support subscription customers and 292 total customers "across a broad array of company sizes and industries."

Hortonworks also offered a glimpse into its balance sheet via the S-1. For the nine months ended September 30, 2013 and 2014, Hortonworks reported revenue of $15.9 million and $33.4 million, respectively. That's on top of net losses of $48.4 million and $86.7 million for the same time frames.

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