Episode 47: The Atlassian IPO

Ben & David venture to the land down under (and reunite in-person!) to tell the story of the granddaddy of all bootstrapped tech success stories, collaboration software company Atlassian. How did two plucky college grads from Sydney, Australia go from just trying to escape working for the man to becoming two of the top 10 wealthiest people in the entire country, all without raising a dollar of venture capital? We dive in. 

Topics Covered Include:

  • How Atlassian founders Mike Cannon-Brookes and Scott Farquhar met in college at the University of New South Wales in Sydney, Australia, and their decision to bootstrap a startup as an alternative to finding a “real job” after graduation
  • Atlassian’s “no sales” model, and the resultant efficiency of their sales & marketing spend relative to other SAAS companies 
  • Organic product growth and acquisitions over the years, starting with Jira and later adding Confluence, BitBucket, HipChat / Stride, Jira Service Desk and Trello
  • Rapid revenue growth and the decision to continue as a bootstrapped company, only raising secondary capital prior to going public
  • The IPO in November 2015 and subsequent stock performance (spoiler: it’s been good)

The Carve Out:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Jason Day, who you heard at the beginning of this podcast, here.