Atlassian, the company behind enterprise software offerings like HipChat, JIRA, and Bitbucket, closed at $27.78 on the Nasdaq after making its debut this morning at $27.67.
Yesterday Atlassian sold 22 million shares at $21 per share, effectively raising $462 million in the initial public offering (IPO). That means the stock (trading under the symbol TEAM) closed today 32 percent up from the IPO price.
Not that the Australian company needs the money. For executives, it just seems like the right thing to do.
“The short answer is we’re building a long-term company, and we’ve been around 13 years, and we feel like we’re just beginning, and we also wanted to be a best in-class company,” Atlassian president Jay Simons told VentureBeat in an interview earlier today.
In the business of collaboration software like HipChat, Atlassian competes with the likes of Slack and Yammer. In the hosted source code repository market, where Bitbucket does business, privately held GitHub is the star. Recently Atlassian split up JIRA — which competes with products from GitHub, Microsoft, Fog Creek’s FogBugz, and Asana, among others — into JIRA Core and JIRA Software.
For the fiscal year that ended on June 30, Atlassian posted $6.7 million in income on $319 million in revenue, according to the most recently updated Form F-1 on file with the U.S. Securities and Exchange Commission.
Across all of its services, Atlassian has more than 5 million monthly active users, according to the filing.
Atlassian started in 2002 and is based in Sydney, with 1,400 employees. Employees who had been with the company for more than 10 years were on site in New York for the Nasdaq’s opening bell today.