The Ledger
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Farquhar: Accel won Atlassian's initial round at $405M valuation
“And the valuations we got back varied between, there was one sort of high hundreds. There was three of them ended up in the two to three hundred million dollar range. And Excel, who ended up you know, winning for us came back at four hundred and five million U…”
Cannon-Brookes: Atlassian gross margins increased over the past six quarters
“Our cogs has gone up, or rather cogs has gone down, right? Our gross margin has gone up. Last six or seven quarters.”
Cannon-Brookes: Some Atlassian AI features are 1,000x cheaper to run today
“Some of our features are a thousand times cheaper to run than when we introduced them today.”
Gonto: 80% to 85% of top PLG revenue comes from enterprise accounts
“If you look at all of the companies like Atlassians of the world, like the Twilios of the world, Outsido, or even Bursell, most of them, what ends up happening is that 80, 85% of the revenue comes from mid-market and enterprise, 15% come from SMBs, but that 15…”
Simons: Atlassian never followed the 'triple, triple, double, double' growth model
“And, you know, Atlassian, you know, was never a triple, triple, double, double, double company. It was this kind of methodical, reasonable grower.”
Cannon-Brookes: Atlassian cloud revenue grew 26% past $5B with 44% RPO growth
“We're accelerating our cloud revenue, which did a 26% quarter growth rate at well north of five, six billion at the moment. And we grew our RPO by 44%.”
Farquhar: Atlassian had $60M revenue and 20-30% margins when raising VC
“So we're on sixty million dollars of revenue. I think we were doing 20 or 30% profit margins.”
Lemkin: Atlassian and MongoDB are bouncing off business bottoms
“When I look at what Atlassian is saying, like, they're bouncing off the bottom, and Mongo's bouncing off the bottom, and other folks are seeing things improve.”
Egan: Atlassian Does Not Discount Software Prices for Any Customers
“In my current role at Atlassian, we don't discount. We try to work on terms that work for our customer, but everything's programmatic. So if our customers were to speak with any other customer, they know that they're in the same boat and that we're transparent…”
Simons: Atlassian grew 40% to 50% annually for 15 straight years
“Atlassian grew between 40 and 50% for more than 15 straight years.”
Simons: Atlassian built a partner network instead of direct enterprise sales
“We invested at Atlassian, we invested early on, we had built this self-service online e-commerce flywheel for customers to buy the product. And as we moved into the enterprise, we had an opportunity to either invest directly in building an enterprise sales org…”
Most of Atlassian's equity is still held by its founders
“We've got Atlassian, which is undisputedly a great company, but most of the stock is still held by the founders.”
Lemkin: Atlassian's revenue growth accelerated to 23% at $6.3B revenue
“Atlassian's accelerating. A year ago it was growing 20. Now it's growing 23% at 6.3 billion revenue. It's accelerating, and yet it's the biggest decliner of the entire group, and it's accelerating.”
Iconic Growth logged $8.5B Netskope and $1B DX exits in one week
“And Iconic had two billion dollar exits this week, Iconic Growth, okay? It had Netscope, which no one talked about, eight and a half billion dollar exit, and they congratulated themselves on DX, which Atlassian bought for a billion”
Farquhar: Atlassian Raised $100K in 5 Days with $5 Promo
“So we said, let's make our software five dollars for five users for five days Only. And we ran basically a one week campaign to just see, well, is there a desire for a five years of version of our software? And by the way, all the money goes to charity. And so…”
Farquhar: Atlassian reached ~$4B revenue and $40B-$50B valuation in 2023
“We're about four billion dollar business, like revenue wise, a value to 40 to fifty billion dollars, you know, today in 20, 23.”
Atlassian had 200 employees on Stride before selling to Slack
“And so in the end, like, you know, deciding to shut down that product, we had a couple hundred people working on it. It was hard because a lot of people had poured their light, you know, heart and soul into it. We sold it to Slack”
Simons: Atlassian has over 500 partner resellers and solution providers
“And, you know, when we thought about it, even sort of one of the examples that I mentioned, a partner economy of resellers and solution providers, we, I think Atlassian now probably has over 500 of those.”
Simons: Atlassian enabled third-party add-on ecosystems from an early stage
“And by the way, the other dimension that I mentioned was, it was important to us is we had Extensibility in Atlassian products from a really early age. And so one thing that partners could do is they could extend them and kind of build add-ons and customizatio…”
Simons: Atlassian launched its second product Confluence in year two
“In Atlassian's case, our second product, Confluence, was created in year two of the company, which was incredibly risky, I think, to diversify focus so early. But, you know, as I mentioned earlier, I think it was foundational to the company Atlassian became.”