Mark Nelson was named Tableau Software CEO in March, leading the Seattle-based company as part of Salesforce, filling a vacancy created by the departure of his predecessor, Adam Selipsky, to become the new Amazon Web Services CEO. (Tableau and GeekWire Photos)
Seattle-based Tableau Software is no longer an independent publicly traded company, but it’s back under the watchful eyes of Wall Street for a different reason.
Salesforce bought the data visualization company for more than $15 billion in 2019, its largest acquisition at the time. Now, with Salesforce close to completing its acquisition of workplace collaboration company Slack for $27.7 billion, investors are looking to Tableau’s performance inside Salesforce for clues about Slack’s fate.
They found some encouraging news in Salesforce’s recent earnings report: Tableau generated $394 million in revenue for Salesforce in its first fiscal quarter, up 38%, and was involved in eight of Salesforce’s top 10 customer deals for the quarter.
“I can’t speak to all acquisitions (but) this one’s working very well for us,” said Tableau CEO Mark Nelson in a podcast interview with GeekWire this week. “And we’re in a very good spot, as those numbers show.”
“Certainly, part of that is good execution on our part — good products that we’re putting out there,” he added. “But make no mistake, the economy is also roaring back, which is a great thing to see across the board. There’s a bunch of things that are looking very positive, especially here in the US as we come out of the pandemic.”
Combined, the acquisitions of Slack and Tableau position Salesforce as a more formidable rival to Microsoft in enterprise technology, with Slack going head-to-head with Microsoft Teams, and Tableau competing directly against Microsoft’s Power BI data visualization technology.
Nelson acknowledged that Tableau may be a bigger target for competitors as part of Salesforce, …read more