Big data software company Hortonworks went public on the Nasdaq this morning, and the stock was trading at $24 per share following the opening bell.
That’s a nice start, reminiscent of the pops that software startups like Workday have experienced.
Hortonworks, which sells a distribution of the Hadoop open-source software for storing, processing, and analyzing lots of different kinds of data, had priced its shares at $16 and raised $100 million last night, above the $12-14 range the company had set earlier.
The performance could have a positive impact on other Hadoop distribution sellers that aim to go public, namely Cloudera and MapR. And surely the 50 percent jump will be a figure that earlier-stage Hadoop startups, such as freshly funded Altiscale and Qubole, will cite going forward.
Tech companies New Relic, Lending Club, and Workiva are also going public this week.
Hortonworks investors include Index Ventures, BlackRock, Passport Capital, HP, Teradata, and Yahoo. Seeking Alpha pegged Yahoo’s stake in Hortonworks at $183 million.