A sterling question my inquisitive friend.
Unless you’ve been living under a proverbial rock, you would have heard that Sydney tech giants Atlassian have publicly listed the company on the stock market.
Listing last week at US$21 per share, the company raised a staggering $440 million dollars on its first day of trading, lifting the company value to $5.8 billion. A pretty damn good result considering they were aiming for the $250 million mark. On ya fellas.
But why do people care?
Atlassian’s growth as a start-up was so meteoric that it was dubbed as an all-elusive ‘Unicorn’, a term used by fat cat venture capitalists when such companies exceed $1 billion in value.
What’s more impressive is that they are now being considered the most successful tech IPO (initial public offering) of the year.
We care for the same reason we care about Australian sports teams on an international stage – we like people to know that we’re good at stuff.
Having an Australian company raking in big coin is handy for the economy too, namely because the mining boom has hit the breaks and digging stuff out of the ground isn’t as fruitful as it once was.
Atlassian are essentially the poster-boys for last weeks innovation statement from PM Malcolm Turnbull and in any event, they should be lauded for their massive achievements in the tech world.
The company is now listed on the NASDAQ under the ticker ‘TEAM’, the cherry on top of this inspirational cake.
Feature Photo: Christopher Galluzzo
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