Atlassian becomes highest-valued Aussie tech company

By Dylan Bushell-Embling
Thursday, 10 December, 2015

Atlassian becomes highest-valued Aussie tech company

Australian collaborative technology vendor Atlassian has priced its Nasdaq IPO at US$21 ($28.78) per share, raising a total of US$462 million.

The IPO has given the company a market value of around US$4.4 billion ($6.03 billion), a record for an Australian publicly listed technology company.

The US$21 per share price was above the previously forecast US$19 to US$20 range. The company will now begin trading on the Nasdaq Global Select Market later today.

Besides being a record for an Australian technology company, the high valuation is unusual for a tech company that has been around since 2002. The company has been steadily growing for a decade.

The strong showing also comes at a time when a number of other tech company IPOs have been underperforming compared to expectations.

Atlassian has around 51,000 customers across 160 countries. The company employs more than 1200 people across offices in five countries. Major customers include Facebook, eBay, Visa, Toyota, eBay and NASA.

Atlassian's co-founders Mike Cannon-Brookes and Scott Farquhar together own 66% of the company, giving them a stake worth nearly US$3 billion at IPO prices.

Image courtesy of Atlassian under CC

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