Indeed, Cannon-Brookes says that the last thing he wants or expects is for this IPO to really affect Atlassian too much at all, internally speaking. Firms like Accel bought millions of dollars' worth of equity in Atlassian from secondary share sales, letting employees cash out, but the company has said that it's never actually used the money for operations. First, it's never taken any direct venture-capital investment. Meanwhile, Atlassian's new $5.78 billion market cap is well over its last reported private valuation of $3.3 billion.Ītlassian was always an odd duck among high-value startups.
For instance, when payments startup Square had its IPO, it lost a third of its private-market value. It's a great result in a year that hasn't always been kind to tech IPOs. That's up to our investors," Farquhar told Fortune earlier on Thursday. "I can't tell you how valuable our company is or isn't. In fact, this week, Atlassian's Sydney headquarters is hosting employees from its offices all over the world for its 33rd "ShipIt" hackathon, where its development teams come up with new product and feature ideas.Īnd between the two, ShipIt is "more important than the IPO," Cannon-Brookes says.
"Whatever we were doing yesterday, keep doing that today." "It's an exciting day, but we're a disciplined company, and we're disciplined people," Cannon-Brookes says. But Mike Cannon-Brookes and Scott Farquhar, the company's cofounders and co-CEOs, don't seem to be worrying too much about it.