Tableau's market value soars past that of competitor QlikTech on first day of trading
Tom Paine
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| Photo / Business Wire |
Business Intelligence vendor Tableau (I think the preferred term now is data discovery and visualization) closed its opening day of trading (on the NYSE under the symbol "DATA") yesterday at $50.75, up almost 64% from its opening price to the public of $31.00, giving it a market capitalization of about $2.9 billion.
Its Radnor-based competitor, QlikTech, closed yesterday at $30.68, with a market cap of $2.65 billion. QlikTech held its IPO on July 16, 2010.
Seattle-based Tableau had been growing at more than 100% per year and had total revenue of $127.7 million in 2012. It posted a net loss of $3.7 million on revenue of $40 million during this year's first quarter, up 62% from the pior year. QlikTech reported total Q1 2013 revenue of $96.5 million, up 22% from the prior year's first quarter, and a GAAP loss of $16.8 million.
Tableau and QlikTech are by no means apples to apples competitors, though they frequently come up for direct comparison (but QlikTech CEO Lars Björk downplays in presentations how often they compete for the same accounts). Tableau's strength's are seen as data visualization and "rapid fire" ad hoc query capabilities, and being easier for end users who are not data analysts or developers to use. QlikTech is probably better suited to heavier (more structured) data analysis and for the sheer speed of its in-memory processing (although Tableau also uses in-memory technology).
Another distinction between the two is that while QlikTech originated in Sweeden and gradually expanded into other regions of the world and its revenue distribution still reflects its European roots, only 17% of Tableau's 2012 revenue came from outside the US and Canada, according to its S-1.
QlikTech announced earlier this month it had acquired Sweeden-based NComVA, a company it was already partnering with, to enhance its visualization technology.
QlikTech shares have also had a nice spike this month, up 20% and hitting a 52 week high, partially spurred on by the prospects of the Tableau IPO and perhaps a sense among some investors that QLIK was undervalued relative to the value given to Tableau.
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Daily Links 5/17/2013: Tableau, Marketo jump after offerings
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Tableau Software's IPO Pops Big: Shares Skyrocket Up ~60% (SAI Enterprise)
QLIK Rising: As DATA Soars, BMO Cheers New Analytics Approach (Barron's: Tech Trader Daily)
Marketo makes a mint in IPO, San Mateo company's stock shoots more than 50 percent higher in debut (San Jose Mercury News)
Tableau and Marketo Create Whopping Piles of Money With IPO Debuts (All Things D)
Yahoo Board to Meet Sunday to Consider $1.1 Billion, All-Cash Deal to Acquire Tumblr (All Things D)
Legislation to boost PA tech funding introduced (Philadelphia
Business Journal)
DirecTV Said to Be Considering Acquiring Part or All of Hulu (Bloomberg)
SAP Sapphire Wrap 5/17/2013
Google And SAP: Two Very Different Cloud Strategies (ReadWrite Cloud)
Face/Off – SuiteWorld vs Sapphire Now (Diginomica)
SAP Vows Hana Is Ready To Run ERP (Information Week)
Daily Links 5/16/2013: Arris CEO says M&A ‘Distractions’ Took Toll on Motorola Home
Arris CEO: M&A ‘Distractions’ Took Toll on Motorola Home
Says Q2 Revenues Will Be Light, but Expects Sales to Accelerate in the Second Half of 2013 (Multichannel News)
Philly Fed Manufacturing Index Drop (Wall Street Journal: Real Time Economics)
Pills Tracked From Doctor to Patient to Aid Drug Marketing (New York Times)
Amtrak Is Introducing Acela-Like Wi-Fi (New York Times)
Dell 1Q Net Tumbles 79% as PC Trouble Continues (Fox Business)
Microsoft's Cloud Businesses Lift Shares To 5-Year High (Dow Jones Newswires via Fox News)
Highlights from SAP Sapphire 5/16/2013
At Sapphire, SAP's Plattner swipes at critics, Oracle (ZDNet)
SAP builds out HANA platform and ecosystem (PC World)
SAP announces general availability of Business Suite on HANA (Computerworld UK)
SAP Will More Than Double Investments in Venture-Capital Funds (Bloomberg)
HP preps Project Kraken for monster HANA in-memory jobs
Sixteen Ivy Bridge-EX sockets and 16TB in a single image (The Register)
SAP: Hana Viable Threat to ORCL, Says Pac Crest; Not Yet, Says BMO (Barron's: Tech Trader Daily)
SAP chief defends cloud strategy in wake of NetSuite and Qualcomm attacks (V3.co.uk)
Will SAP Scale the Customer Side of the Network Effect With Business One + Ariba Integration? (Spend Matters)
Daily Links 5/15/2013: RJMetrics closes $6.25 million Series A
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RJMetrics Closes $6.25M Series A Financing (PR Web)
Business Intelligence Startup RJMetrics Raises $6.25M From Trinity Ventures For Ecommerce Boom (TechCrunch)
Activist Shareholders Target MSNBC During Comcast's Annual Meeting (Audio) (Hollywood Reporter)
Comcast Checks into Hotel Services Opportunity (Multichannnel News)
DirecTV Looks to Test Off-Air Antenna in Set-Top (Multichannel News)
Netflix ISP Speed Index for April (Netflix Blog)
Drones and Airware: Why We Invested (Kent Goldman/First Round Capital)
InsPro Technologies Corporation Announces First Quarter 2013 Financial Results (Business Wire)
MeetMe® Enhances Mobile Subscription Product MeetMe+
Company extends mobile monetization leadership among mobile social apps (Business Wire)
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Highlights from SAP's Sapphire 5/15/2013: SAP unveils Fiori app suite
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SAP unveils 'consumer-friendly' Fiori app suite (PC World)
SAP updates line-of-business cloud apps (PC World)
SAP Gives ERP A Facelift (Information Week)
SAP co-CEO Snabe: In business, eat (or be eaten) (ZDNet)
Have We Been Properly Introduced? Dispelling Misconceptions About SAP HANA (Silicon Angle)
IBM PureSystems, SAP and business transformation (ZDNet)
Port of San Diego finds value in SAP cloud apps, but not HANA (Computerworld UK)
PACT, Ben Franklin Northeastern PA honor top entrepreneurs
Tom Paine
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Two of the area's most prestigious tech associations held their awards banquets last week.
On Thursday evening, May 9, PACT (The Greater Philadelphia Alliance for Capital and Technologies) held its 20th Annual Enterprise Awards. The event was held at a new venue this year, the Valley Forge Casino, intended to provide a bit more of a "red carpet" atmosphere (though hopefully it didn't lead to any startups wagering away their VC funds).
The IT winners of Enterprise Awards this year were:
· Technology Startup Company: ThingWorx
· Emerging Technology Company: InstaMed
· Investment Deal of the Year: Liquent
· IT Innovator Award of Excellence: Relay Network
· Technology CEO of the Year: Tim Wallace, iPipeline
· Technology Company of the Year: Quintiq
Comcast Executive VP David L. Cohen was named Legend Award Honoree.
You can see all the finalists here.
Also, on the evening of May 7, Ben Franklin Technology Partners of Northeastern Pennsylvania held its annual i xchange at Zoellner Arts Center at Lehigh University, with some 550 attendees present.
Award winners included Ed J. Coringrato Jr (Entrepreneurial Achievement), CEO of CyOptics, the Breinigsville optoelectronics maker for the telecom industry that was recently acquired by Avago Technologies Limited for $400 million. Also honored was Anthony J. Salvaggio (Incubator Graduate), President of ComputerAid Inc., Allentown. The IT consulting firm, which started with two employees in the early 1980s, now has more than 3,000 full-time associates.
Michael Whitman, President & CEO, Micro Interventional Devices, Langhorne, was honored for product innovation. Started out of Ben Franklin TechVentures in 2010, Micro Interventional Devices developed a minimally invasive product for use in heart valve repair and replacement procedures.
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News from SAP's Sapphire: 5/14/2013: SAP says HANA will power all cloud applications
SAP Unifies Comprehensive Cloud Portfolio With SAP HANA® Cloud Platform to Serve Companies of All Sizes (PR Newswire)
SAP says HANA will power all cloud applications (PC World)
Dell gooses HANA appliances, loads up SAP Business Suite
Looks ahead to those Ivy Bridge-EX machines later this year (The Register)
SAP Exec To Partners: Huge Incremental Revenue Opportunities Ahead (CRN)
SAP introduces Mobile Secure; mobile device management (ZDNet)
NetSuite's aims for SAP's manufacturing heart (ZDNet)
Qualcomm's CIO Says Oracle Is A 'Dinosaur' That's Losing Ground In The Enterprise (SAI Enterprise)
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