This morning NY time, Talend has started its life as a public company on Nasdaq.
This is a tremendous achievement for the company, and a critical milestone in its journey. Talend has joined an exclusive group of the very few software companies from Europe to IPO on the US stock exchange.
Talend SA was started by French co-founders Bertrand Diard and Fabrice Bonan in the outskirts of Paris in 2006. They were the first to build an open source software for data integration. Talend have since become a truly global organisation.
We at Balderton feel privileged to have been associated with the company since 2008, when we made a $9m investment in the company in the very early stages of its development. At the time, we were all impressed by the strength of the product, and by the vision of the founders, who recognized early that enterprise data management could be disrupted by an open source model. Since then, it has been an incredible ride: Talend has grown significantly, moved its headquarters to California, expanded its product line, and brought in Mike Tuchen as CEO in 2013. And I have been fortunate enough to have been a representative on the board since our initial investment, and became the chairman of the company a few years ago.
Yesterday, after a successful roadshow, the company priced its offering at $18 a share, one dollar above the top of pre-announced range of $15-17. Another great achievement in a market that has not seen many IPOs this year.
At Balderton, we are all very proud to have had the chance to be a part of this journey. Please join us in congratulating Mike Tuchen (CEO) and Thomas Tuchscherer (CFO) for this formidable achievement, and in wishing them good luck for the future.