Friday , 24 May 2019
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Big data company Hortonworks raises $100M before IPO, bumps up price to $16

Big data company Hortonworks raises $100M before IPO, bumps up price to $16

Hortonworks conference

Hortonworks conference

Image Credit: Hortonworks

Like some other tech companies going public this week, big data company Hortonworks today increased the price of shares of its stock ahead of its initial public offering. Shares have gone up to $16 each, up from the $12-14 range Hortonworks set earlier this month.

And it has also raised $100 million prior to the big day.

Renaissance Capital, a manager of exchange-traded funds of initial public offerings, announced the news in a brief report on its website. Hortonworks has not yet submitted an official filing with the U.S. Securities and Exchange Commission.

Hortonworks, which sells a distribution of the Hadoop open source software for storing, processing, and analyzing lots of different kinds of data, will debut on the Nasdaq on Friday morning under the symbol HDP. (HDP, by the way, stands for Hortonworks Data Platform, the name of the distribution.)

Meanwhile, also on Friday, Workiva and New Relic will both premiere on the New York Stock Exchange.

New Relic upgraded the price of its shares for its initial public offering (IPO). So did Lending Club, which went public today. That company raised $870 million before the IPO.

Hortonworks’ initial IPO filing was disclosed on Nov. 10. Investors include Yahoo, HP, and Teradata.

The IPO’s outcome could factor into the IPO campaigns of other Hadoop companies, such as Cloudera and MapR.

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