
How long can Atlassian stay Australian? - nreece
http://delimiter.com.au/2010/07/15/how-long-can-atlassian-stay-australian/
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pm
I agree wholeheartedly with the sentiment of this article, as someone who runs
an up-and-coming software/game development company in Adelaide. However, how
can they reasonably ask why Atlassian sought outside investment from a US VC
firm?

Over the past five years, I've encountered a small number of VC firms and
partners in my area, and to be honest, I'm not impressed. You can wear a suit,
you can talk big, but if I'm smart enough to call bullshit on you whatever you
know, do you really think I want you to invest in my company?

Australian VC firms are full of shit. The only way we're ever going to support
a proper angel investment culture is to grow companies ourselves, and reinvest
our experience back into the community. It's a decade long project, but
someone's going to do it.

~~~
nl
You're in Adelaide?

I went to an Angles in SA meeting a couple of months back and found them
generally clueful.

I do think Renai has some reasonable points, but I think the argument is
nuanced that he is stating.

I think Atlassian is a world-class software company, and is looking at the
world as a market, not the Australian market. I think than ambition means they
needed world class VC.

An Australian IPO remains possible, too. If it could get the $500M+ returns
they need then there are advantages to an ASX float.

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andrewtj
Mike's rebuttal buried deep in the comments is worth reading:
[http://delimiter.com.au/2010/07/15/how-long-can-atlassian-
st...](http://delimiter.com.au/2010/07/15/how-long-can-atlassian-stay-
australian/#comment-12555)

