1. Home
  2. /
  3. business
  4. /
  5. private companies
  6. /
  7. Can You Buy ThoughtSpot...

Can You Buy ThoughtSpot Stock/IPO? Here’s What You Should Know

ThoughtSpot Stock

Investors have been looking for a way to get their hands on data analytics firm ThoughtSpot’s stock ever since the news came out that the company might be considering a public listing.

But what is the ticker symbol, ThoughtSpot stock price, and IPO date? Let’s find out.

Can You Buy ThoughtSpot Stock?

No, shares are not available to buy right now. ThoughSpot is still a private company.

However, there is some speculation that this year might be the right time for it to become publicly traded.

The firm has been planning for an IPO for quite some time now, with indications coming from no less than ThoughtSpot’s CEO in 2021.


ThoughtSpot IPO


Still, the company hasn’t yet filed the S-1 form with the SEC.

Until that happens, we cannot be sure whether it will go public or get bought out like similar firms such as Tableau.

In the article, we will discuss what kind of IPO date, ticker symbol, and price investors might expect from the ThoughtSpot IPO.

About the Company

ThoughtSpot’s mission is to help organizations harness data to derive insights to make faster and better decisions.

It believes in offering non-technical users a platform to perform their own business analytics.

They should not be forced to use query languages or learn to program.

The firm’s software uses natural language processing.

This helps to make searching and analyzing complex information across several sources simple.

ThoughtSpot’s technology also connects large data warehouses.

It makes them available to users through apps, reports, and other easy-to-use formats.

Three key attributes set these products apart from competitors:

  • Simplicity: Even non-technical people can access insights
  • Choice: Businesses can opt for a software as a service model or integrate the product in a private virtual cloud.
  • Ease of use: The reports and information are available on mobile platforms

ThoughtSpot was founded in 2012 by Ajeet Singh, Amit Prakash, Priyendra Deshwal, Shashank Gupta, Sanjay Agrawal, and Vijay Ganesan.

A few had previously worked with silicon valley giants like Google and Oracle.

Ajeet is also one of the co-founders of Nutanix, one of the big names in cloud software.

It counts Fortune 500 businesses like Walmart, Hulu, Daimler AG, Cigna, Capital One, and De Beers among clients.

Who Owns the Company?

ThoughtSpot is owned by its venture capital investors, founders, and management team.

The $557 million in funding that they have received so far has primarily come from investors like:

  • Lightspeed Venture Partners
  • March Capital
  • Silver Lake Management
  • Sapphire Ventures
  • SharesPost
  • General Catalyst
  • Geodesic Capital
  • Khosla Ventures
  • Capital One

How Much is the Company Worth?

As per a report in Forbes dated Nov’21, ThoughtSpot had raised $100 million in a funding round. It was valued at $4.2 billion at this point.

New investor March Capital led the process.

To date, the firm has raised $674 million from its investors.

Before this, it received $248 million in funding by Aug’19 at a valuation of $1.95 billion.


It was reported in several places that ThoughtSpot was expected to achieve annual recurring revenue of $100 million by the end of 2021.

At the time, its CEO had also mentioned that the sales in Sep’21 were higher by 88% over the same one last year.

A large part of the growth came from two changes made in the revenue model.

The first was a move towards cloud-based services. The company shifted its entire focus to this aspect from 2020 onwards.

Secondly, the firm moved to a software-as-a-service paradigm, which allowed its products to be accessible to smaller firms.

Current sales figures are not in the public domain.

What is the ThoughtSpot IPO Date?

No date has been decided for the ThoughtSpot IPO as of now. Many people suggest it might happen this year, but we cannot be sure for now.

Its CEO, Sudheesh Nair, had mentioned in Nov’21 that he would like to have the firm ready to go public in a year.

However, there has not been any follow-up announcement so far.

Before an initial public offer, the firm would need to file an S-1 prospectus with the Securities and Exchange Commission (SEC).

So far, this has not been completed.

ThoughtSpot Ticker Symbol

As of now, there is no ticker symbol assigned to ThoughtSpot since it has not begun the listing process.

However, here are a few possible options that it might consider once it gets into the IPO mode:

  • TSPT
  • THOT
  • TSP

Note that these are just some of the alternatives the firm might consider.

As we stated earlier, the final one would be declared only after the initial public offering comes out.

ThoughtSpot Stock Price

Since the stock is not listed right now, there is no price associated with it.

Firms normally consider complex pricing models and mechanisms to fix a price to be offered to market participants.

One simplistic approach is to look at competitors to assess the range in which shares of this kind are usually traded.

An analysis of such securities shows that the value of the securities might end up being somewhere between $150 – $300.

Of course, the final announcement would only be made once the firm comes out with its public offer.

ThoughtSpot Competitors to Invest in

Major players in the tech industry have acquired several competitors of ThoughtSpot’s products in the last few years.

Chief among them is Looker, which was bought out by Google, and Tableau, whom Salesforce purchased in a mega deal worth nearly $16 billion.

Due to this, few companies are in direct competition to it that are listed separately.

Below we have shared three stocks, among which only MicroStrategy works in the cloud analytics space and nothing else.

Salesforce Inc (NYSE: CRM)

Salesforce’s huge acquisition of Tableau for $16 billion in 2019 created waves on Wall Street.

As an enterprise CRM and cloud computing vendor, having Tableau in its arsenal meant the firm could offer a 360-degree solution to its clients.


Salesforce Inc


Whether this business model will be successful only time can tell.

In FY that ended in Jan’23, Salesforce made $31.35 billion in revenues, but its net income was only $208.00 million.

Microsoft Corp (NASDAQ: MSFT)

Microsoft is best known for its Windows operating system and Office suite of products, but it also has Power BI among its software offerings.

This product competes with ThoughtSpot and Tableau’s products and shares a similar space in the data analytics industry.


Microsoft Corp


Investors should note, however, that the fortunes of Microsoft’s stock are only partially influenced by how Power BI does.

The company earned $198.27 billion in revenue in FY 21, and its earnings touched $72.74 billion.

MicroStrategy Inc (NASDAQ: MSTR)

This firm has BI, cloud services, and mobile software products.

It has a large suite of offerings to help businesses use data to make business decisions.

MicroStrategy Inc

The firm is headquartered in Tysons Corner, Virginia.

In the Financial Year 2022, MicroStrategy had $499.26 million in sales, but its net income fell to -$1.47 billion.

Wait for ThoughtSpot IPO or No?

ThoughtSpot is a strong player in a growing market.

Many larger business houses are replicating its approach to making data science accessible to non-technical users.

Moreover, the solution itself is proven and has takers from several Fortune 500 industries to smaller players.

That said, we cannot comment on how good or bad the firm’s financials are.

Since it is a private company, details such as profitability and average recurring revenue trends are invisible to potential investors.

Moreover, it has been quite a while since ThoughtSpot made indications of a possible IPO.

Therefore, whether waiting for it would be a good idea will depend on the investment objectives of the trader.

It is best for interested investors to watch the company’s announcements closely.

When the ThoughtSpot IPO comes out, thoroughly examine all the financial information before putting any money into the start-up.

Final Thoughts

ThoughtSpot stock is not available to the general public.

Several reports in 2021 indicated that the company might go for a listing in the next year, but so far, it has yet to happen.

Some analysts predict that it may happen in the next few quarters.

The company’s data analytics through the AI platform has received appreciation from several quarters.

It has many customers in the Fortune 500, but with its SaaS model, the range of clients has significantly increased in recent years.

However, the financial details, such as profitability and net earnings, are not available to examine.

Investors would be best served by reviewing these numbers before putting any money in the listing.

We have shared some possibilities about what kind of IPO price, symbol, and other things to expect when it is finally announced.


Ritesh is an experienced copywriter who brings his decade-long work in corporate strategy and finance to bring analysis and insight into his writing.