🎥 The Morning Meetup Video
We all know about the success stories of Airbnb and Uber, the most famous of unicorns, because we use them in our day-to-day lives. But have you heard of Atlassian? Right now, it’s a $ 50 billion behemoth but 20 years ago, it was just 2 guys from Australia answering phone calls. Today we’re covering how this startup went on to create products used by 83% of Fortune 500 companies!
Atlassian was created by Scott Farquhar and Mike Cannon-Brookes in 2002. They started out as a company that supported other companies’ customer support teams. It meant that the founders were taking calls at all hours of the day and night, and they didn’t like that. This makes even more sense in that the two started Atlassian because they didn’t want to wear a suit to work. The bug-tracking software they used at the time for software development wasn’t that great, so they built their own tracker called JIRA – with that Farquhar and Cannon-Brookes quickly decided they were better off selling Jira than providing support services.
With their product in hand, Atlassian decided to move away from the status quo. Previously most software companies would invest heavily in sales teams to market to large companies. Rather than raising huge amounts of capital and spending it on sales, Atlassian began with $10k in credit card debt, and decided to invest in building a self-service purchase experience rather than marketing and sales. They struck gold when in 2003 they found an order from American Airlines. According to company lore, they looked at each other and said, “Did you talk to them?” “No, did you?”… “Holy shit! American Airlines saw Jira on our website and bought it just like that!”
With orders in hand, Jira was bringing in significant revenue. In fact, by 2005, three years after it was founded, Atlassian was profitable without having taken any venture capital at all. This was because they charged enterprise prices and weren’t spending money paying salespeople.
By 2007 Atlassian continued to grow its sales and income, and here’s where they once again took a unique approach. Rather than spending time developing more tools and expanding products, they decided to invest in buying tools that were already successful – including buying Cenqua which made 3 developer tools that filled gaps in Atlassian’s product offerings.
By 2010 they already had $50 million in annual recurring revenue (ARR). Already profitable for 5 years, Atlassian raised $60 million in secondary funding from Accel Partners. They planned to use the money for growth and an acquisitions war chest. They continued their strategy and acquired Bitbucket, a hosted service for code collaboration similar to Github.
Atlassian’s strategy was in place, and they continued to grow their company along this path, including a string of acquisitions. And by 2015 they went public with the ticker symbol TEAM, their shares beginning to trade and closing with a market cap of nearly $5.8 billion. Today Atlassian provides collaboration, development, and issue tracking software for teams and continues to grow. They now have over 180,000 customers in over 190 countries!
The company’s stock price has grown from around $27 in 2015 to $450 in 2021. Their services were in even higher demand during Covid. The recent bear market has seen their stock pullback to just over $200 and a current market capitalization of over $50 billion. Not bad for a couple of Aussies who didn’t want to wear suits and spend their time answering phone calls!
Atlassian began by building a better mousetrap by improving on a bug tracker program for software development and using this as a launchpad for developer collaboration in the booming industry. Along these lines, I’d like to talk about RAD AI – a company that is looking to use advanced AI to get better results in marketing through the application of proprietary marketing tech tools. Read on for more info!
Super AI is here..and RAD AI is using it to get better results for companies marketing across social media by more adeptly targeting the needs of potential customers. RAD is accomplishing this with its emotionally intelligent marketing platform.
RAD AI boasts a marketing platform with an EQ (emotional quotient) that enables it to create authentic influencer content that more deeply resonates with its intended audience.
Connecting authentically with your intended audience…now THAT is the HOLY GRAIL of marketing…
And many companies have recognized their need for this type of connection and are turning to companies like RAD AI for help – some of RAD’s biggest customers include Conde Nast, Accenture, Magellan Health, UBS and Crush, among a host of others.
For a really great example, see here HERE for short case studies summarizing RAD’s impressive process. And…as a huge boxing fan, I particularly like how Crush soda used RAD AI to activate Tik Tok influencers for Mexican professional boxer, Canelo Álvarez – click here to see these knock-out results!
And it’s no surprise that, according to the company, its customers have seen about a 250% increase in performance metrics across digital channels…WHOA!!!
So, there is little doubt that artificial intelligence is the future of marketing. And Rad AI is poised to grab its share of the marketing technology (MarTech) market by providing emotionally intelligent marketing, increasing connections with audiences and enhancing performance for customers.
IMHO, RAD AI is a company with MEGA POTENTIAL like Atlassian – I encourage you to watch this video or check them out here to learn more about this amazing company shaking up the marketing industry!
+ RAD was featured in TechCrunch here
+Listen to a podcast with George Gilder, a futurist whosewho’s books Steve Jobs used to give to colleagues about the future of A.I. here
+Joe Rogan Interviews Marc Andreeson Tech Pioneer, at one point they discuss remote work and how Marc’s company has gone remote here
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