Hortonworks, one of two big data companies from the Bay Area that will make their public debuts on Wall Street Friday, will raise $96 million in its IPO.
The company on Thursday priced shares at $16 each, well above the $12 to $14 range the company set in its IPO filings. At the $16 per-share price, Hortonworks is valued at $661.9 million. The Palo Alto-based startup sells software to businesses for storing and analyzing big data.
Hortonworks – which filed for an IPO less than a month ago — is one of three big-name Bay Area companies to go public this week. Lending Club, the online marketplace lender from San Francisco, made a splash on the New York Stock Exchange on Thursday when it soared 65 percent at the opening bell and became the largest IPO from California this year, raising $865.5 million.
New Relic, a San Francisco company that makes cloud-based software for businesses to collect, store and analyze massive amounts of data in real time, is also expected to join Hortonworks with an IPO on Friday. New Relic recently raised its price range to $20 to $22, and is expected to raise more than $110 million. At the midpoint of the price range, New Relic would have a market value of $967 million.
As of early evening Thursday, the company had not yet determined on a final share price.
