The best of times: Atlassian’s stock up 32% on IPO opening day

When searching this week on the terms IPO and tech IPO, one company consistently came up: Atlassian. In our previous post, we talked about Atlassian’s impending initial public offering (IPO). We are now here to tell you that it did not disappoint.

The Atlassian IPO raised $462 million, finished the day trading up 32% from the IPO price of $21, and created a market capitalization of nearly $5.8 billion. As an Atlassian Platinum and Enterprise Expert, we have been very impressed with the cooperation and respect Atlassian has provided us. It was never more evident than in the email co-founder Scott Farquhar sent to us earlier this morning, stating that Atlassian’s goal is “to unleash the potential in every team and do for team productivity what Microsoft Office did for personal productivity.” How appropriate that the Atlassian NASDAQ ticker symbol is TEAM.

When asked by Fortune Magazine why Atlassian chose 2015 for its IPO despite the tepid IPO climate, Farquhar’s answer revealed the company’s long-term vision: “We’re not smart enough to time the market, but hopefully we’ve built a business that can survive at any time.” He commented on hyper-growth by tech unicorns, saying, “There are a lot of companies out there that maybe grow at 80% or 90% for a year or two, and then hit a brick wall in year three because they haven’t grown their staff the right way, or because they milked the customer base too much. We have a slow and steady approach.”