Enterprise

The Surreal Life Of A Tech Cofounder: He's One Of The Richest People In His Country And The Prime Minister Knows His Name

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Scott Farquhar AtlassianImagine being on a first-name basis with the leader of your country.

That's a threshold Scott Farquhar crossed a few weeks ago and it felt surreal, he told Business Insider.

Farquhar is the 32-year-old cofounder of Atlassian, a software company based in Australia.

Last month, the country's prime minister, Julia Gillard, invited him to a forum on the digital economy. When he showed up, she clearly knew who he was.

"This is kind of weird," he recalled thinking. 

It reminded him of just how far he had come in the 10 years since he and his cofounder, Mike Cannon-Brookes, launched their company.

Today, Farquhar and Cannon-Brookes are the two wealthiest young Australians, according to BRW magazine, with an estimated net worth of $480 million.

Atlassian is a company that sells enterprise software for software developers. The flagship product is called Jira and it helps companies keep track of bugs in their software and other issues. Other tools help developers store code and collaborate.

In the early days, Atlassian was a tech-support company founded with the hope it would keep them in beer money.

"We basically didn't want to work for anyone else," Farquhar said. "The graduate salary at Pricewaterhouse was $47,500 so we said, if we could earn that kind of money, and we didn't have to put on a suit on, we'll enjoy it a whole lot more. That's the whole reason Atlassian got started."

But it wasn't fun, at first. Support turned out to be what Farquhar calls a "terrible business," with calls at 3 in the morning.  They paid themselves $300 a week.

Flash-forward to today. Atlassian did "$100 million in sales last calendar year, and is growing north of 30% per annum," Farquhar says. It has 22,000 customers, 300 employees in Sydney and 150 in San Francisco. Next step: an IPO, which is rumored to be coming up maybe next year.

It also has a freakishly similar history to its biggest competitor, GitHub.

Atlassian grew with no VC funds for eight years and then the founders took a $60 million investment from Accel Partners in 2010. It was Accel's single largest investment in a software company.

Earlier this year, GitHub nabbed a $100 million round from Andreessen Horowitz, also the largest single investment from that VC firm, also GitHub's first outside funding after years of self-funded growth.

Both companies have similarly wild, fun corporate cultures, too. While Atlassian is based in Sydney, Australia, it has a large office in a warehouse space in San Francisco, blocks away from GitHub's headquarters.

Farquhar says success hasn't changed him, much.  Besides knowing heads of state, the big difference is having less time.

"I've always prided myself on helping people and being available," Farquhar says. "I always believed that if you can can help someone get started in business or get over life crises then it's your your job to help them. But now I get five emails a day from people asking for advice or help ... and unfortunately I have to say no."

He worries about that.

"I can see how people might say, 'When Scott was younger he was nice and now that  he's a success he's a jerk,'" he laughs.

While Farquhar can't give as much personally, he makes sure the company makes up the difference. Atlassian donates one percent of its revenue, one percent of its employee, and one percent of its products to charity.

Oh, and he still doesn't wear a suit.

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Julie Bort was Business Insider's Editor at Large for the Tech team. She loves investigating stories and shedding light on the tech industry's most amazing people.Here's a small sample of some of Julie's work.Former Pinterest employees describe a traumatic workplace where managers humiliate employees until they cry, Black people feel alienated, and the toxic culture 'eats away at your soul'Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked itInsiders say WeWork's IT is a patchwork of cheap devices and Band-Aid fixes that will take millions to fixWeWork's toxic phone booths were created in-house by its Powered by We business70-hour weeks and 'WTF' emails: 42 employees reveal the frenzy of working at Tesla under the 'cult' of Elon MuskElon Musk works so many hours at Tesla, employees are constantly finding him asleep under tables and desksHow this woman went from a Pizza Hut employee to a founder of a $4 billion startupAn Oracle insider explains how some salespeople gamed the system to sell more cloudTHE TAKEDOWN OF TRAVIS KALANICK: The untold story of Uber's infighting, backstabbing, and multimillion-dollar exit packagesMicrosoft is in talks to buy GitHub, a startup at the center of the software world last valued at $2 billionThe alarming inside story of a failed Google acquisition, and an employee who was hospitalizedInside Facebook's plan to eat another $350 billion IT marketHow a registered sex offender wound up living in an Airbnb hosting unsuspecting guestsA controversial ex-banker is the person who really runs Twitter — and he's gambling the company's future on one risky betSecret passages and skipped meals: Oracle's CEO gave us a rare peek at what it really takes to run a $37 billion companyHP told some employees to choose between becoming contractors with no benefits or being fired without severance'I felt like we were being extorted': Customer says Oracle tried to strong-arm him into a cloud saleHow the queen of Silicon Valley is helping Google go after Amazon's most profitable businessAirbnb host: A guest is squatting in my condo and I can't get him to leaveLIES, BOOZE, AND BILLIONS: How one of the fastest-growing startups in Silicon Valley history raised $580 million then spiraled out of controlGitHub is undergoing a full-blown overhaul as execs and employees depart — and we have the full inside storyWhen she's not writing for Business Insider, Julie can usually be found on the trails, on my mountain bike, or on my skis, if you know where to look.