Self-service analytics provider Alteryx rang the opening bell at the New York Stock Exchange this morning in celebration of their initial public offering. Alteryx released 9,000,000 shares of its Class A common stock at a price of $14.00 per share and are currently trading under the symbol AYX. Founded in 2010 and based in Irvine, California, Alteryx has raised $163 million in investment funding over the last four years.
Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. According to Tech Crunch, Alteryx recorded revenues of $85.8 million in 2016, up from $53.8 million the year prior. Previous investors include Toba Capital, Sapphire Ventures, Insight Venture Partners and ICONIQ Capital, per CrunchBase.
CNBC reports that the IPO will help the vendor go the “next chapter” which likely means expanding market growth and maybe some acquisitions. In a television interview this morning, Alteryx’s CEO Dean Stoecker spoke to the news: “We haven’t seen an analytics company go out public in a very long time, so we believe the market is ready for a powerful platform like ours in the line of business and we’re going to drive it forward.”
Alteryx touts an impressive customer list that is made up of some of North America’s most prominent companies, including Ford Motor Company, Amazon, Audi, BAE Systems, Cisco and Target.
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