Co-founders Scott Farquhar and Mike Cannon-Brookes spent their final day of as co-CEOs working from home. Venture capitalists say Farquhar’s influence goes beyond Atlassian.
Atlassian co-founders Scott Farquhar and Mike Cannon-Brookes spent their final day as co-CEOs working remotely, without a traditional office farewell to commemorate Mr Farquhar’s executive departure.
Shares in the software company, which makes tools for project managers and developers, have tumbled over concerns about its slowing revenue growth. They are down 27 per cent this year, closing at $US165.60 on Friday, sitting out the records broken on Wall Street.Mr Cannon-Brookes, who declined to be interviewed, has promised investors that Atlassian would always be his “number one professional priority and focus”, despite his expanding interests in renewable energy.
“That led to Scott and Mike being the largest contributors to the Blackbird VC fund, and without that, Canva, SafetyCulture and hundreds of other Australian tech companies may not exist as they do today,” Mr Anear said.
“It’s certainly not clear sailing from here, as there’s both macro and execution risk ahead, but this is a firm with exceptional franchise value, a culture of innovation, relatively low-priced products, and a multi-year path to drive large data centre customers to better economic cloud-based solutions,” Mr Hynes said.
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