This will be a great litmus test for relatively new and growing technology companies to determine when it's right to IPO in this market. There have been a numb

This will be a great litmus test for relatively new and growing technology companies to determine when it's right to IPO in this market. There have been a number of recent IPO's from companies with great growth but no profits to show for it. The market has mainly rejected these companies and the companies are trading near IPO levels or below. Some of them after taking a down round to go public even, such as HDP. Atlasssian is showing very good growth and profits, however modest (which they should be for them - reinvesting in the company is the best action right now), which I assume would end up with a pretty decent multiple. My midline would be a 4 billion market cap based on current growth trajectory, current and potential earnings (and their reinvestment in the business) and cash on hand which should limit and sort of second round any time in the foreseeable future. This isn't based on PE (it would be extremely high right now) but rather the revenue growth and cash stability to allow sustainable reinvestment in the companies marketing, R&D and sales departments. It's a bit over 10x forward revenue.