/// Tableau and Marketo Create Whopping Piles of Money With IPO Debuts
iStockphoto | dny59 Two software companies saw their share prices rise by 64 percent and 78 percent respectively in their first day of trading. Marketo, a cloud-based marketing software company, debuted on the Nasdaq today under the ticker symbol MKTO at $13 a share and closed at $23.10. Its biggest shareholder is venture capital firm InterWest Partners, whose 33.3 percent stake was worth $302 million pre-sale and is now worth north of $565 million. Tableau Software started trading on the New York Stock Exchange under the ticker symbol DATA. Its shares were priced yesterday at $31 and closed today $50.75. Its biggest shareholder is New Enterprise Associates, which invested a combined $29 million in three rounds between 2004 and 2010 for about 37 percent of the company. It sold two million shares at $31 in the offering, but still has 17.6 million shares remaining, making its combined gain on Tableau, by my math, worth $955.2 million. On paper that amounts to a one-day gain of 3,194 percent. Now are you convinced the IPO market is back?
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Tableau and Marketo Create Whopping Piles of Money With IPO Debuts