Splunk is Going Public

Big Data solutions company Splunk has just filed to go public and is looking to raise $125 million in IPO. Splunk, which will list under the symbol SPLK, collects, indexes and harnesses all the fast moving machine data generated by enterprise applications and devices. It makes this data, which can be hundreds of terabytes a day for large enterprises, easy to break down and query so that even non-technical users can solve Big Data problems, reducing the IT bottleneck. It can also be used to manage and monitor distributed computing, Platform-as-a-Service infrastructure, and Software-as-a-Service. Splunk Enterprise for Hadoop will soon be available, allowing the software to integrate with with Apache Hadoop, the leading open-source Big Data platform.

Splunk has over 3,300 customers, including most of the Fortune 100. Credit Suisse, Bank Of America, Comcast, Salesforce, Zynga, LinkedIn, T-Mobile, Swisscom, Shutterfly, Heroku and the US Departments of Labor and Energy are all clients. Splunk generates revenue based off the amount of data its clients want to index, and in the 2009, 2010, and 2011 fiscal years generated $18.2 million, $35 million and $66.2 million in revenue. On top of this rapid growth, Splunk has also raised $40 million in venture capital.