Qlik files confidentially for IPO

Tom Paine

King of Prussia-based Qlik has confidentially filed for an IPO, it
announced lasf week.

Qlik had been publicly traded from 2010 until 2016, when it was acquired by PE firm Thoma Bravo for around $3 billion.

Founded in Sweeden in 1993, Qlik posted revenue of $180 million in the 2nd quarter 2016, its last before going private.

Aftet the acquisition Qlik implemented a one-time workforce reduction, and
installed a new CEO, ADP veteran Mike Capone. Qlik built out its SaaS offering in the Cloud, though given the huge volume of data often involved the Cloud can’t manage everything.

Since then it made a series of acquisitions, mostly small. A major change of direction for Qlik came with the full realization that the. utilization of its products depend upon the avaliability of good data to put in them. Through acquisitions and alliances, Qlik has created stronger ties with the data prep & cleansing ecosystems.

I’ve seen purported 2021 revenue figures on the web and I’m not sure of their source and they don’t make much sense, so I’ll have to wait until the 10-k goes public.

Tableau, probably QLik’s most direct competitor, raced ahead of Qlik in revenue and was acquired by Salesforce in 2019 for $15 billion. Per Salesforce reporting its still performing well. But Tableau’s strength is in Dataviz (graphics), and lacks much of the governance structure that makes a Qlik model more rigorous. In addition to Microsoft’s Power BI, there’s a newer wave of BI products, and now there is a new generation of data warehouse and query tools like Snowflake and Databricks.

There’s always a chance that someone will buy Qlik before it goes public. SAP was definitely in the mix in 2016. though I don’t know if it actually bid; things have changed a bit there but Qlik still works closely with SAP on custom things. I wouldn’t rule out some of the new data management players like those named above having interest.

if Oracle does buy Cerner then it would probably be too busy to take on Qlik.

I’m by