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.
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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.