After being built on the back of $10,000 in credit card debt, Atlassian is set to be valued at $5 billion with its upcoming public listing.
The workplace collaboration software company has posted an updated share listing to the Nasdaq, revealing just how big the float is going to be.
The Australian startup success story will be offering 20 million new shares worth between $US16.50 and $US18.50, valuing it at $US3.6 billion ($5 billion) if investors opt for a mid-range.
That’s a higher valuation than private investors have placed on the company, which was valued at $US3.3 billion in April last year.
It’s in stark contrast to other tech companies recently that’ve gone public at significantly lower valuations than they had obtained from private investors – most recently Square and Match Group.
Atlassian will be beginning a formal road-show this week, with Fortune reporting that it is likely to begin trading next week on the Nasdaq under the ticker TEAM.
It’s set to be a landmark day for co-founders Mike Cannon-Brookes and Scott Farquhar, who still own 67.2% of the company between them.
Atlassian initially filed to go public at the start of the month, revealing it has been profitable for the last decade, bringing in $US320 revenue for the year, with net income of $US6.78 million.
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Denham Sadler is a freelance journalist based in Melbourne.
