Splunk, an enterprise data company, will be making its debut on the public markets this morning after pricing its IPO at $17.00 per share (this is up from the range of $11 to $13 per share). At this price, Splunk is valued at a whopping $1.57 billion. Splunk, whose stock will begin trading on the Nasdaq today under the symbol “SPLK,” raised $230 million in the offering.
Splunk is a provider of intelligence software used to monitor, report and analyze real-time machine data as well as terabytes of historical data–located on-premise or in the cloud. For example, Splunk indexes and makes searchable data from any app, server or network device in real-time including logs, config files, messages, and alerts. Clients can also monitor distributed deployment across thousands of servers in multiple data centers; manage the infrastructure of a cloud platform-as-a-service (PaaS); monitor performance of cloud- delivered SaaS solutions and monitor hybrid SaaS/hosted models.
Clients include Credit Suisse, Bank Of America, Comcast, Salesforce, Zynga, LinkedIn, T-Mobile, Swisscom, Shutterfly, Heroku and the US Departments of Labor and Energy. The company has over 3,700 customers, including a majority of the Fortune 100.
For fiscal 2009, 2010 and 2011, Splunk’s revenues were $18.2 million, $35 million and $66.2 million, respectively, representing year-over-year growth of 93% for 2010 and 89% growth for 2011. For the fiscal 2012 year ended Jan. 31, Splunk pulled in $121 million in revenue, an 83 percent increase from the previous year. In 2009, 2010, and 2011, the company took a net loss of $14.8 million, $7.5 million and $3.8 million, respectively. In 2012, Splunk’s losses increased to $11 million
Splunk has raised $40 million in funding from August Capital, JK&B Capital, Ignition Partners and Sevin Rosen Funds.
For Splunk, this IPO has been in the works for some time now. In 2010, Splunk’s CEO Godfrey Sullivan told us that the company had plans for an offering in 2012. We’ll see what enterprise companies take Splunk’s lead in entering the public markets in 2012.