Talend CEO Mike Tuchen On The Company's $94 Million IPO

reason to accelerate its timetable for higher rates. The tenure up ten thirty seconds, that yield one point four six percent. Gold now up eighteen dollars an ounce the thirteen fifty, a gain there of one point four percent. Crude West Texas Intermediate up nine tenths of one percent, up thirty eight cents of barrel fifty five right now on the West of Texas Intermediate SMP up four seventy four, a gain of two tenths of one percent. The down down

seventeen to drop there point one percent. I'm Charlie Pellette. That's a Bloomberg business splash. You're listening to taking Stock with Kathleen pim Fox on Bloomberg Radio. Welcome back to Taking Stock. Matt Miller here with pim Fox. We are joined by Mike took In, the CEO of Talent, uh technology company that helps clients compile and analyze data from

different sources. That I'm going to get an explanation on the most interesting thing about the company right now in this moment is that they just price an ip O. Mike, you just price an IPO a dollar above the range. Congratulations on that eighteen dollars a share and it's trading up today on the first day of trading. Uh. So, everything went well with this I P O and it's right now. It's kind of spent. Procedure is a difficult time. How did they go for you? Matt? It was beyond

the numbers? Obviously, it was a terrific day for us. We felt like the market was very receptive to the offer that we had, and our bankers told us it was one of the most oversubscribed offerings they've seen in four and a half years. So what ex act leaded? When I say that you help clients compile and analyze data from different sources, I mean we do that to a lot A lot of companies do that. What exactly

do you do a talent? We help companies become data driven because we're in a world where the better companies are able to use their data, the more effectively they

can compete. In every industry, there's companies that are completely changing the game based on using data, and as a result, our customers can use their data more effectively to drive their An example would be so, for example, every company in the world needs to make better decisions on sales and marketing, which sales, which marketing um uh messages, in which marketing campaigns are driving, which sales opportunities to drive,

which customers, which customers are therefore more profitable, and so all that kind of sales and marketing analytics are things that we can help them with. Hey, Mike, I wonder if you could just help people a little bit about your background, because this is number two for you to a certain extent. I'm sure he's done a lot of other things, but I remember rapp at seven and I wondering if you could tell us about that company and

how you got connected to this world of technology. You bad. So. I actually started out in my career as an engineer. I was a computer designer UM with a master's electrical engineering, designing computer chips. So then I got my lobotomy, went to b school and UH worked for then um eight half years at Microsoft in two stints. UM my first CEO opportunity, as he said, was rappid seven. Had the privilege to work with a terrific group of folks in Boston and took them from five million to fifty million

and four and a half years. And then three years ago had the opportunity here to join Talent. I jumped at that and excited to be here. Today. Customers include Air France, City Bank as well as General Electric. And this is all about real time analytics or is it about research? Um, it's about real time analytics as well as really any way that companies want to leverage their data. It might be in real time or it might not, but every company has day it all over the place.

It might be in the cloud, it might be in different applications, and they need to bring it together, clean it up, make sense of it before they can start driving their business from it. That that's the part of the business that we help them with. So I'm just trying to understand what kind of solution you have. Do you come with a platform that Talent already has. Do you have Taylor ready solutions for the companies with whom you work, Um, how exactly do you get the data?

Do you only use data that they have? I mean, I'm trying to get a little more into what Talent doest. So we use all of their companies existing data. We don't bring our own data. And it's a platform that they can use to develop solutions. We don't have customized solutions. So what it is is a platform that allows you to pull data from all the different places or take a real time for you just pin was just mentioning

and clean it up. Data is always has mistakes and inconsistencies, and you need to be able to blend data from a multiple different places. I can give a couple of examples if that will help. But so some g genius came up with this awesome platform and then you guys have helped him bring that to market. Basically, we had a founding team that had a unique insight into how the market was evolving, and um, they thought this the approach that we had technically was significantly better than the

market and they've proven to be right. Go ahead and give examples, but the context, I'm just going to bring up his Business Objects because the team that started Talent are behind Business Objects, which was sold then to S S A P. Yes, we have a couple of our exact teams from Business Objects and we had our chairman UM was the founder and CEO of Business Objects for many years, Bernhard the Toad, and so yes that he's been super super helpful along the way with the lessons

that he's learned from building Business Objects, and so you know, I'll take give an example UM. Right now, every one of you has had alerts UM phone calls from a credit card company saying this transaction might be fraudulent. Well, how does that happen? What they need to do is look at that transaction and all the pull up all the data from that and compare that to other transactions

they know are fraudulent. That process of pulling data together and UM screening it for potential fraud is something that we can help them with. I get these phone calls, by the way, constantly, I feel like I must just make typically fraudulent purchases a lot, literally once a week. I'm wow, my credit card isn't working because they think

I'm someone who's stolen my credit card. Uh all right, let me ask about the growth prospects because obviously, if people are thinking about an I p O the market, the stock, they might want to buy it. Um why should they put what's the argument for somebody getting in after the I p O, after the pop? What kind

of growth prospects are you looking at? Well, what what talent offers is a combination of strong and accelerating growth UM with at the same time, we're already cash flow positive, and that's really unique relative to the companies that we've seen over the last four or five years. We've been growing our subscription business around per year UM for the five quarters. And uh as far as the proceeds, I always like to read that lion the Bloomberg story. You

raised almost a hundred million dollars. What are you gonna do with it? You invest? This is part of an exit strategy? What's what's what's the money for? Well, since we're already cash flow positive, we don't need the money to run the company, and so that gives us an opportunity to look for acquisitions. We can look for small tuck ins that allow us to accelerate into the markets that are close to what we're doing, or speed up our ability to UM build deeper solutions. I should have

started with that question. Great answer, all right, Mike, thanks so much for joining us. Real pleasure to talking to Mike. Talent CEO Mike Tookin, sorry, CEO of Talent, on the company's I p O and the outlook for acquisitions. Taking stock. Coming up on taking stock will take stock of the Bank of Japan and what it isn't doing in order to spur economic growth in the country. The latest monetary easing fell short of investor expectations.