So not four days after PM Malcolm Turnbull announced $1.1 billion in funding for an ‘ideas boom’ in the tech industry, and Sydney-based software company Atlassian shatters the valuation record for an Australian tech firm listed on a public stock exchange.
Its IPO – y’all ready for this? – is sitting at a casual SIX POINT ONE BILLION ($US4.4 billion). *faints*
Co-founders Scott Farquhar and Mike Cannon-Brookes have a combined stake in the company of about 66%. This valuation will propel them from #42 and #43 on BRW‘s rich list and into the top 20, as their combined personal worths fkn skyrocket from $2.1 billion to over $4.1 billion.
The valuation is also some v. v. good news for the Atlassian Foundation (which provides masses of funding for education in developing countries, setting up schools and that kinda thing), as back in 2010, Scott and Mike gave 1% of their shares to it, so they’re set to receive a cash injection in the tens of millions range, NO BIGGIE.
Ok, time for a beer.
— Mike Cannon-Brookes (@mcannonbrookes) December 9, 2015