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Atlassian' founders are constantly in the press talking about the australian startup ecosystem and its flounderings, asking that government do more to help, and
by ghiculescu 11y ago
Atlassian' founders are constantly in the press talking about the australian startup ecosystem and its flounderings, asking that government do more to help, and so on. I've always wondered why, given their patriotism, they aren't going public on the ASX first. Obviously they'll make a lot more money this way, but going by what they've said in the past, it doesn't seem like that's the biggest priority anymore. (I haven't met the guys and would love to have this problem so take this armchair analysis as it is, but I'm curious if anyone knows more about the why here.)
- trentmb 11y agoMaybe to make a point- an Australian company can 'make it' in the US. Something to point to when pressuring the Ausi gov't?
- jpau 11y agoYou're right - they will probably make more by listing in the USA. Tech valuations on US exchanges are higher than on the ASX - even with recent falls, the NASDAQ is sitting at an average price-to-earnings of 22 vs the ASX200 IT index sitting at about half that. The Atlassian founders are known to be good at putting their money where their mouth is. Perhaps they feel they can make a greater impact with the extra funds than with a single statement.
- corkill 11y agoI think you answered your own question that they will make more money this way, which I'm sure all of their investors and employees holding stock will appreciate. I believe they are quoted somewhere as saying the ASX doesn't understand tech stories like Atlassian though can't dig up the quote right now.
- hyperpallium 11y agoMost of their customers are in the US.