Today, we are thrilled to extend our congratulations to Mike Cannon-Brookes, Scott Farquhar and the entire Atlassian team on its IPO!
Until recently there was a conventional wisdom around Silicon Valley that great technology companies could only be built on the west coast of the US in regions like Silicon Valley. Investors often said (half jokingly) that one should "always invest in companies within driving distance” as so many multi-billion-dollar software and technology companies were created ‘only’ on the west coast of the US.
But, we have always believed differently.
We believe that the lessons and technologies of the Valley (and other tech hubs) are ultimately borderless. Cloud services, internet commerce and viral marketing now makes building the next generation of disruptive companies possible from just about anywhere. As evidence, we look no further than Atlassian.
Mike and Scott, who founded and still lead Atlassian from Sydney, Australia are the definition of world-class entrepreneurs with the courage to defy the conventional wisdom.
Mike and Scott founded Atlassian in 2002 on just $10K of personal credit card debt, and have since run the company with growing revenues and real cash flows for more than 10 years. The company was founded to help software teams work better together. From the beginning, their products were designed to help developers collaborate with other non-developer teams involved in software innovation.
From day-one, we were attracted to the company’s premise that great products could sell themselves, and their deep investment in product development to create and refine high-quality and versatile products that users love. Atlassian makes products affordable for organizations of all sizes and transparently share simple pricing online. In short, Atlassian does so many things the right way.
We were privileged to partner with Mike and Scott and become the first outside investors in 2010, and have been honored to play a small role in assisting in the growth of this remarkable team and company!
Congratulations again, and thank you.
Rich Wong & Ryan Sweeney, Accel Partners