Atlassian is 20 years old and unprofitable (smartcompany.com.au)

Article summary

Atlassian, a 20-year-old Australian company, has seen its market valuation drop significantly due to slowing growth and lack of profitability. Despite being valued at $52 billion, the company is losing money, with a net loss of over $500 million in the first nine months of the year. Atlassian's legacy product, Jira, is seen as clunky and has barely evolved in a decade, making it vulnerable to competition. The company's high valuation is questioned, with some arguing it should be valued at around $10 billion.

Main themes

• Atlassian's valuation
• Jira's limitations
• Enterprise software
• Lock-in effect
• Migration challenges
• Alternative products
• Business model concerns

What commenters say

• Atlassian's Jira product is criticized for being clunky and having a poor user experience, with some calling it a 'massive pile of garbage'.
• The company's lack of profitability and slowing growth are seen as major concerns, with some arguing that its valuation is inflated.
• Jira has a strong lock-in effect, making it difficult for companies to switch to alternative products, despite its flaws.
• Some commenters argue that Jira is still a useful tool, particularly for large enterprises, due to its customizability and flexibility.
• The migration from Jira to alternative products is seen as a significant challenge, but not impossible, with some companies having successfully made the switch.
• Atlassian's business model is criticized for relying on equity to pay employees, which can create problems with retention and recruitment.
• Alternative products, such as Asana and Azure DevOps, are seen as viable alternatives to Jira, with some arguing that they offer better functionality and user experience.