Acquired

Episode 47: The Atlassian IPO

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Nov 7, 2017
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ANECDOTE

Atlassian's Bootstrapped Beginning

  • Atlassian founders Mike Cannon-Brookes and Scott Farquhar, classmates at the University of New South Wales, aimed to avoid traditional jobs.
  • They bootstrapped Atlassian, initially paying themselves only $15,000 annually, financed by credit cards.
INSIGHT

Necessity Breeds Innovation

  • Atlassian's launch coincided with the dot-com bust, making traditional VC funding unlikely.
  • This forced them to adopt a "no sales" model, selling software directly online.
INSIGHT

Third Wave of Enterprise Software

  • Atlassian pioneered the third wave of enterprise software, prioritizing product quality over aggressive sales tactics.
  • This approach, similar to Slack and GitHub, focuses on organic adoption and bottoms-up growth within teams.
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