Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
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Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#2As an Aussie, sad to see a homegrown company head overseas. Can understand why though. 30% corporate tax, lower EBITDA: Market Cap and I'm sure plenty of red tape. Tis a shame.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#3> Sales jumped 34 percent from the previous 12 months to $149 million.
Atlassian has a really good growth, I've heard of a ~30% yearly figure:
> Atlassian's 2011 Revenues were $102 millions [1]
> 2009 revenue was $US58 million [2]
Which sounds like an exponential 30%. Any financial expert to confirm we're comparing the right figures here?
> Scott Farquhar, who owns about 88 percent of the company with co-founder Mike Cannon-Brookes
> Accel Partners [...] now owns 10 percent of the company
Anyone knows how the structure of the capital works and who owns the rest?
[1] http://techcrunch.com/2012/01/16/atlassian-2011-revenues-102... [2] http://www.smh.com.au/technology/enterprise/from-uni-dropout...
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#4I really hope this doesn't fuck up the company offering. We are deeply embedded with Atlassian products / services. JIRA is an ingrained part of our daily business processes.
All of our developers actually like it - a first when it comes to bug / issue / story management tools. It has its quirks, but we haven't found anything that matches it to date.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#5As an Aussie, sad to see a homegrown company head overseas. Can understand why though. 30% corporate tax, lower EBITDA: Market Cap and I'm sure plenty of red tape. Tis a shame.
The best investment an Australian developer can make is a passport.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#6A bit of an aside but half relevant now that they could be moving overseas.
I tried to apply for an internship at Atlassian but was rejected because they only take interns from UNSW. I was not pleased.
EDIT: I suppose it makes sense since the founders attended UNSW.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#7As an Aussie, sad to see a homegrown company head overseas. Can understand why though. 30% corporate tax, lower EBITDA: Market Cap and I'm sure plenty of red tape. Tis a shame.
Aussies resent business, they don't seem to realize that the money that pays their high wages has to come from somewhere.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#8As an Aussie, sad to see a homegrown company head overseas. Can understand why though. 30% corporate tax, lower EBITDA: Market Cap and I'm sure plenty of red tape. Tis a shame.
As a fellow Ausssie, I'm also sad about this. By the sounds of it, they've given this move a lot of careful consideration.
But, rather than just be sad about it...
Might be a good opportunity to discuss what can be done to improve on the situation for future Australian companies? In what ways can navigating through the red tape be made simpler?
I know there's a lot of small startups springing up across at least Melbourne and Sydney. So it's natural to assume Atlassian aren't the only ones faced with this dilemma of moving overseas to further their business.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#9As an Aussie, sad to see a homegrown company head overseas. Can understand why though. 30% corporate tax, lower EBITDA: Market Cap and I'm sure plenty of red tape. Tis a shame.
I imagine a big part would the higher trading multiples and thus potentially higher valuation.
Re: Atlassian Seeks Domicile Move to Pave Way for U.S. Initial Offer
#10As an Aussie, sad to see a homegrown company head overseas. Can understand why though. 30% corporate tax, lower EBITDA: Market Cap and I'm sure plenty of red tape. Tis a shame.
As a fellow Ausssie, I'm also sad about this. By the sounds of it, they've given this move a lot of careful consideration. But, rather than just be sad about it... Might be a good opportunity to discuss what can be done to improve on the situation for future Australian companies? In what ways can navigating through the red tape be made simpler? I know there's a lot of small startups springing up across at least Melbo…
It's probably not about red tape. It's that companies listed on US exchanges have higher valuations than companies listed on the ASX.
There's just not that much red tape in Australia. Starting and running a company costs a few hundred bucks per year. If you keep up your books, reporting takes a few minutes per quarter.
Bam, you've successfully navigated all the red tape needed to run a software business.