This Week in Startups

Bootstrapping to IPO, product-led growth, & scaling SaaS with Atlassian's Scott Farquhar | E1800

33 snips
Sep 1, 2023
Guest
Scott Farquhar
Scott Farquhar, Co-CEO and co-founder of Atlassian, shares insights from bootstrapping his company to an IPO. He discusses the challenges faced during the dot-com crash and the innovative strategies that paved their way. Farquhar also reflects on the lessons from HipChat's acquisition and how product-led growth can propel SaaS success. The conversation dives into the impact of generative AI on enterprise software and the balance between organic growth and sales efforts in tech.
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ANECDOTE

Atlassian's Bootstrapped Beginning

  • Atlassian started in 2001 during the dot-com crash, bootstrapping out of necessity.
  • They initially offered support for a Swedish company's software, a terrible business that pushed them to software development.
INSIGHT

Level Playing Field

  • Bootstrapping was viable because no one had access to funding during the dot-com crash, leveling the playing field.
  • Technological shifts like open source and internet distribution helped Atlassian catch up to established competitors.
ANECDOTE

Bootstrapping Hustle

  • Scott Farquhar and Mike Cannon-Brookes did high-priced consulting during the day to fund Atlassian.
  • Farquhar even flew to the Netherlands for coding reviews, working on Jira at night and learning from textbooks.
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