Good morning. Here’s what you need to know.
1. Atlassian finally files for IPO. The Australian enterprise collaboration software vendor behind popular tools like JIRA and HipChat has filed its S-1 document with the Securities Exchange Commission to go public on the American markets.
The company, which was reportedly valued at $US3.3 billion earlier this year, does not specify how much it intends to raise in its IPO.
The filing reveals that Atlassian, whose customers include NASA and the US Department of Treasury, has been profitable for the last 10 years, and revenue grew 48.5% year-on-year in fiscal 2015 to $US319.5 million.
2. Changed technology can drive real competition in Australian banking, according to a new report by KPMG. That’s important because the mutual banking sector serves around 4 million customers and holds more than $90 billion in assets. But its biggest member, CUA, only has a balance sheet of around $12 billion. Greg McKenna has more here.
3. Let’s get ready to Rumblr! The fate of an app described as ‘Tinder for fighting’ will be known today after the makers promised the beta for the fighting app will be launched this morning. See how it hopes to work here.
4. Apple’s giant iPad Pro goes on sale in Australia tomorrow. Apple confirmed the iPad Pro is set to launch on November 11 with an in-store roll-out later this week. The roll-out is occurring in over 40 countries. See more about the launch here.
5. Meet the two guys who spent 40 years building a working jetpack that uses real jet engines. JetPack Aviation has finally created something that’s only been done a couple of times since 1919: build a working jetpack that’s powered by actual jet engines.
CEO David Mayman co-developer Nelson Tyler say the jetpack has been an on-going project since the 1970s but have finally gotten the formula for personal flight right. The two say they have “spent millions of dollars and thousands of hours secretly developing the device” to bring the JB-9 jetpack to the public.
BONUS ITEM: Mike Cannon-Brookes and Scott Farquhar took no bonuses last year. The founders of Atlassian were each paid a salary of just under $A350,000 last year and took no bonus. However, both Mike Cannon-Brookes and Scott Farquhar each holds around 69.7 million shares in the company which is about to list on the Nasdaq in the biggest-ever IPO by an Australian tech company. Let’s just say it will be a well-earned payday.
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