The Ledger
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Jay Simons: Atlassian spends twice as much on R&D as on S&M
“We spend twice on R&D, you know, that, that we do in sales and marketing.”
Lemkin: Atlassian Re-Accelerated at $5B Revenue but Trades at 4x ARR
“Atlassian beat the quarter. It's re-accelerated at five billion in revenue and it trades at Forex ARR.”
Atlassian assigns account managers to only 5,000 of its 250,000 customers
“So of those 250,000 customers, we really only cover, call it five to 6000 of those with an account manager.”
Atlassian Scaled to $3B Revenue With Under 15% S&M Spend
“We've been able to grow to over three billion in revenue, while keeping sales and marketing spend under 15% of revenue. For all 20 years we've been in business.”
Lemkin: Atlassian monetized its AI agent and drove its stock up
“Atlassian just launched. They finally were able to really monetize their AI agent and it's crushed their stocks up.”
Adding Freemium Tiers Accelerated Growth For Atlassian, HubSpot, And MailChimp
“And in fact, we are seeing more and more companies add freemium additions at lastly and adding free HubSpot, adding free MailChimp, adding free as Three mature examples actually allowed their business to accelerate.”
Atlassian operated for 12 years before hiring a commissioned sales rep
“It wasn't until 2014 that we hired our first commission rep. So 12 years in business before we had to even think about a commission plan.”
Atlassian drives one-third of bookings through third-party channel partners
“And we do roughly a third of all of our bookings through these third party channel partners”
Atlassian Marketplace Generated $2B in Sales, Paying Vendors $1.5B
“Over the last 10 years, we've done over two billion dollars in lifetime sales through our marketplace. Show the scope of what the type of business we've done here. More importantly, we've taken one and a half billion of that and given it back to our marketplac…”
Atlassian Generated Over $1B in Sales Through Solution Partners Last Year
“Last year alone, we did over a billion dollars in sales. I didn't know I was going to be in a tent today. Sorry. The over a billion dollars in sales. And on top of that, that doesn't include all of their own services and training, what have you.”
Dietrich: Atlassian invests 35% of revenue in R&D, 15% in S&M
“At Atlassian, the whole business is set up around this, and we invest more and this is from a recent blog from the CRO, Cameron Dietsch On his LinkedIn that 35% of future revenue is invested in R&D, and only 15% is in sales and marketing, because there is no s…”
Dietrich: Atlassian and Twilio enterprise sales teams are farmers, not hunters
“Atlassian has an upsell, cross-sell enterprise sales organization that's not hunters. It's all farmers, and Sarah was talking about that. The Twilio sales group is farmers.”
Atlassian operates with customer success rather than traditional sales
“Atlassian famously does not have a sales team. They have a customer success team.”
Box uses sales reps for 25-employee companies while Atlassian uses none
“Box has, I think, a sales team that staffs, even, you know, 25 employee company can talk to a sales rep and engage, and those people are on quota, and that's a full team right there. And then on the extreme, on the other side of the spectrum is Atlassian, whic…”
Atlassian sustained 30-35% annual growth for 20 years without triple-digit spikes
“Atlassian never had triple digit growth, except for maybe like year one, where it's like, you know, from 300 K to one million.
Low base.
Yeah.
But instead we've been doing, you know, low to mid 30% growth every year for 20 years.”
Atlassian Spent Hundreds of Millions Building Its Cloud Platform
“So, we went over a multi-year, hundreds of millions of dollars in investment to build the Alassian Cloud Platform.”
Atlassian Grew From $100M to Over $3B in Revenue in Ten Years
“So, when I started the company, literally almost exactly 10 years ago, we were already a successful business. We really did about a hundred million in revenue, had about 20,000 customers. For all intents and purposes, we were a very established, well-known org…”
Simons: Atlassian had 10 consecutive years of profitability before IPO
“Certainly, you know, we had 10 straight years of profitability. And 10 straight years of, you know, decent growth.”
Simons: Accel's $60M Atlassian secondary was its largest VC round at the time
“And the sixty million dollar round in 2010, even though it was secondary and didn't, ah, you know, didn't you know, hit the company's balance sheet. It was the single largest, ah, you know, venture capital round that Excel had done.”
Simons: Atlassian never raised institutional balance sheet capital pre-IPO
“Atlassian had been bootstrapped from the very beginning, had never raised institutional capital on its balance sheet. So we did two secondary rows, second, two secondary rounds. You know, one with Excel in, ah, 2010, and one with T. Rowe Price. In 2013.”