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Article updated: 5/17/2013 11:18 AM

Tableau Software soars in trading debut

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By Associated Press

NEW YORK -- Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.

Seattle-based Tableau Software Inc. provides software that helps businesses convert data into visual presentations.

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The shares jumped $17.50, or 56 percent, to $48.50 in morning trading. Earlier, the company sold 5 million shares for $31 each and total proceeds of $155 million. Certain shareholders sold an additional 3.2 million shares at the same price for $99.2 million.

The shares are trading under the symbol "DATA."

The offering's underwriters -- Goldman, Sachs & Co. and Morgan Stanley & Co. -- have a 30-day option to buy up to 1.2 million more shares from Tableau, which would generate $38.1 million more in proceeds.

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