Tech Transformers

Nutanix co-founder says his next firm ThoughtSpot will go public in 3 years

We're building a real company that solves real problems: Nutanix co-founder

Ajeet Singh, the co-founder of Nutanix – which went public last week – told CNBC that he is eyeing an initial public offering (IPO) for his latest start-up, ThoughtSpot, within three years.

Cloud storage provider Nutanix, which made its stock market debut on Friday, saw its stock close 131.25 percent higher after day one. It is seen as a successful technology initial public offering (IPO) in a very slow year for companies in the sector going public.

Singh – who sits on the advisory board of Nutanix -- is also founder and chief executive of another company called ThoughtSpot. The start-up is like a search engine for enterprise, allowing employees to search massive databases and spreadsheets within an organization for the answers they need. Typically, this would require someone with a high level of analytics expertise, but ThoughtSpot claims to simplify the process.

The four-year-old start-up raised $50 million earlier this year in a round led by General Catalyst, the venture capital firm that counts Snapchat and Airbnb among its investments.

When asked by CNBC if he would take ThoughtSpot down the public route as well, Singh said "yes, definitely".

"That's a function of how ambitious you are as an entrepreneur and I've always been excited about picking very large markets to begin with, even before starting a company, because that allows you to build a lasting company and find problems that are really really hard to solve," Singh told CNBC in a TV interview on Thursday.

In a follow-up question off camera, Singh said that he was eyeing an IPO in three years.