Atlassian chooses America

The Atlassian juggernaut rolls on. After seeing hot demand for its recent IPO it hit the market and rose around 33%. The company's market cap hit a high of USD$5.8 billion in its first day of trading. That would make it the 58th largest company on the ASX, larger than Fortescue Metals Group(ASX:FMG), Orica (ASX:ORI) and Cochlear (ASX:COH). Not bad for a couple of Sydney blokes that started the company on their credit card. The ASX’s loss is NASDAQ’s gain. And you can’t blame the founders for their overseas listing. Atlassian co-founder Mike Cannon-Brookes has accused the Australian government of having their heads ‘so deep in the sand’ regarding the role of tech and that ‘Australia will be paying for it in decades to come’. On the Nasdaq Atlassian will be in good company, believing that in the US there is a greater understanding of tech businesses and the risks and rewards of investing in such companies. The amount of capital available in America to be invested in tech companies is also much greater. Read full article here: (VIEW LINK)