Atlassian, the collaborative work specialist, valued over $ 5 billion

by bold-lichterman

Atlassian, which specializes in software for businesses, successfully completed its initial public offering on the Nasdaq. With an IPO price set at $ 21 per share – more than the initially stated range – the Australian company has managed to raise more than $ 460 million. And soon after its introduction, the share price jumped more than 30%, valuing it at approximately $ 5.8 billion.

CA $ 319.5 million for 2015

Founded in 2002, Atlassian enough to convince investors. Not only has the company been profitable for several years, but it is showing strong growth. In his prospectus published to the SEC, the American market authority, it has a compound annual growth rate of 46.7% between 2013 and 2015. From 148.5 million dollars in sales in 2013, it climbed to 319.5 million for its 2015 financial year.

Historically, Atlassian marketed its products on-premise, in the form of operating licenses. But with rising demands for cloud solutions, the company hopes that subscription revenue will grow higher in the coming years.

Cloud vs. on-premise

The company develops several professional software. She is notably at the origin of HipChat, a collaborative work solution in a company which aims to promote internal exchanges by freeing itself from the eternal back and forth e-mails. This allows employees to discuss via videoconference or an instant messaging system in particular, and to easily exchange documents. With this product, the company competes with the American Slack, which is considering a possible IPO.

But Atlassian is also developing Jira, a project tracking tool for development teams. With this product, the company claims more than 35,000 customers worldwide, including eBay, Square and even Salesforce among its customers.