Hipchat-Maker Atlassian Sets Share Prices For Its IPO
Enterprise software company Atlassian, which filed a month ago to go public on NASDAQ, has disclosed how much its shares will cost. In a SEC filing, the company said its 20 million shares will be priced between $16.50 to $18.50.
If Atlassian, which makes Slack competitors Hipchat and will list under the ticker symbol TEAM, manages to sell all shares at the highest price, it will raise a total of $370 million.
In its new filing, Atlassian says its enterprise software products have more than 51,000 customers. Its total revenue in 2013, 2014, and 2015 was $148.5 million, $215.1 million, and $319.5 million respectively, representing a compound annual growth rate of 46.7 percent.
In those years, Atlassian made net income of $10.8 million, $19 million, and $6.8 million. It said in a previous filing that the income drop last year was due to increased research and development spending. The company’s cash flow in 2013, 2014, and 2015 was $47.1 million, $65 million, and $65.5 million.
Based in Sydney, Australia, and San Francisco, Atlassian was founded in 2002 and has raised $210 million so far through secondary rounds (it has taken no venture capital funding).