Splunk IPO Doubles on Day One

Friday Apr 20th 2012 by Datamation.com Staff

The big data software vendor has the best stock debut of the year so far.

The Wall Street Journal: Software vendor Splunk saw its shares climb 109 percent on the first day of trading. That's the best debut for a technology IPO so far this year, besting Millennial Media's 92 percent surge on its first day of trading.

Part of the "big data" trend, Splunk's software harvests machine data--the log data from servers, switches and all other devices that connect to an enterprise's network--for analysis. The company has 3,700 customers, but has not yet turned a profit. It reported an $11 million loss for the fiscal year ended in January.

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