After pricing significantly higher than expected at $17 per share, venture-backed Splunk Inc. raised $229.5 million in its initial public offering. The Web analytics company begins trading on the Nasdaq Thursday, April 19, under the ticker SPLK. In this video, CEO Godfrey Sullivan explains that Splunk plans to spend the proceeds on new product development, geographic expansion and possibly some additional acquisitions of applications that could be integrated with Splunk's current platform. - Katie Roof