Credit Thor Swift for The New York Times
Atlassian, a maker of development and collaboration software for companies, filed on Monday to go public.
The company, whose last private investment round valued it at more than $ 3 billion, has chosen Goldman Sachs and Morgan Stanley to lead the offering.
Atlassian, a 13-year-old company, may not be as well known as other so-called unicorns, or start-ups valued at more than $ 1 billion by investors. The company produces a number of products meant to make life easier for software developers, like its JIRA project management tool â a name derived from the Japanese moniker for Godzilla â its HipChat chat software, and its Bitbucket code management tool.
That puts the company into competition with prominent rivals like the collaboration giant Slack and the code repository Github.
Yet unlike many of Silicon Valley darlings, Atlassian was not born in the Bay Area. Instead, it was founded in Australia in 2002 and financed in part by some $ 10,000 in credit card debt.
Now, the company claims some 51,000 customers and more than 1,200 employees.
The start-up has stood out from the pack in several other ways.
Chief among them is that it has never actually taken in money from outside investors. Though the company counts at least three financial firms â including Accel Partners, T. Rowe Price and Dragoneer Investment Group â among its investors, those firms bought their shares from employees in so-called secondary transactions.
That makes Atlassian a so-called bootstrapped company, relying on its own profits to finance its growth.
According to the filing on Monday, the company has been profitable for the last three years. In the fiscal year that ended June 30, the company earned $ 6.8 million on revenue of $ 319.5 million, compared with net income of $ 19 million on revenue of $ 215 million in the previous year.
Atlassian does not have a sales force, unusual at a time when enterprise software start-ups hire hundreds of sales staff to pitch their products far and wide. Instead, the company bets that word-of-mouth gets it adopted within a corporation one team at a time.
The company plans to list its shares on the Nasdaq market under the ticker symbol âTEAM.â