A $3 billion tech company with no outside investors is planning a big IPO
Last year, a report placed the value of the 13-year-old Australian company at $3.3 billion, with no venture funding - only Accel Partners, T. Rowe Price Group, and Dragoneer Investment Capital managed to buy into Atlassian via secondary share sales.Even more noteworthy is that Atlassian has relied solely on word-of-mouth and referral sales for its growth, and employs no salespeople.
It also comes at an auspicious time for the company. Thanks to the rise of Silicon Valley, demand for Atlassian's products and services, many of which serve a base of software developers and tech companies, has never been higher.
Business Insider Australia
Its flagship JIRA product is incredibly popular as a bug- and issue-tracker tool. But HipChat is being challenged by startup success story Slack in many markets, and its Bitbucket code collaboration tool for programmers runs right up against the mega-popular GitHub, which boats over 9 million users.
And speaking of GitHub, the news that Atlassian might be seeking an IPO comes less than a week before GitHub Universe, the venture-backed startup's first user conference in San Francisco, where it'll share updates with its devoted fan base.No matter how you slice it, the market for serving developers is heating up.
Atlassian declined to comment for this story.
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