![]() ![]() The judges consisted of Erin McKinzie of Global Security, Jamie Van Randwyk of Computation, and Sue Marlais of the CIO office." Each presentation was limited to five minutes.Īfter voting, Irina Abramova, Kyle Dickerson and Eileen Manarello, all from Global Security, were declared the winners. The 22 participants were given 24 hours to create a project and present it to the panel of judges in an "American Idol" style voting process. "The best part for me was the presentations: Getting to see the awesome projects that the teams developed," she said. "Especially when it comes to Global Security, the constant push forward and the urge to think creatively should be embraced and utilized. "For the Lab, ShipIt Day provided a creative outlet to those who had an idea but lacked the time to fully conceptualize it," Huynh explained. LLNL put its own twist on the proceedings, and organizer Xinh Huynh of Global Security was extremely satisfied with the results. ShipIt Day was pioneered by Atlassian, a shipping company that marketed their idea to other companies by "sharing the spirit of innovation." The event took place in the High Performance Computing Innovation Center, located in the Livermore Valley Open Campus. Late last month, Lab employees participated in the inaugural "ShipIt Day," a competition-centered brainstorming marathon to develop new ideas for Global Security, Livermore Computing (LC) and Applications, Simulations and Quality (ASQ). This profitable startup with no outside investors will be worth $4.Call it a cross between a flash mob of coders and brainstormers and a little healthy competition a la "American Idol." The hottest tech IPO of the quarter, Atlassian, just had a big pop out of the gateīack in 2000, the CIA made 8 predictions on what life would be like in 2015 - here's what it got right (and really wrong) NOW WATCH: The first computer programmer was a woman and the daughter of a famous poet "The model grows stronger and gains strength over time." "If we would have changed it, we would have changed it by now," Simons says. With all of that said, Atlassian's IPO has raised questions from the analyst crowd over how long this self-serve, no-sales model is sustainable before it caves to market demand.īut Atlassian President Jay Simons dismisses that idea, saying that the company is actually getting better at machine learning, meaning that its system can better match customers with the Atlassian product they need over time. And that's what sets Atlassian apart - focusing on its products while others in Silicon Valley fret over valuations, Cannon-Brookes says. Indeed, Cannon-Brookes says that the last thing he wants or expects is for this IPO to really affect Atlassian too much at all, internally speaking. Firms like Accel bought millions of dollars' worth of equity in Atlassian from secondary share sales, letting employees cash out, but the company has said that it's never actually used the money for operations. First, it's never taken any direct venture-capital investment. Meanwhile, Atlassian's new $5.78 billion market cap is well over its last reported private valuation of $3.3 billion.Ītlassian was always an odd duck among high-value startups. For instance, when payments startup Square had its IPO, it lost a third of its private-market value. It's a great result in a year that hasn't always been kind to tech IPOs. That's up to our investors," Farquhar told Fortune earlier on Thursday. ![]() "I can't tell you how valuable our company is or isn't. In fact, this week, Atlassian's Sydney headquarters is hosting employees from its offices all over the world for its 33rd "ShipIt" hackathon, where its development teams come up with new product and feature ideas.Īnd between the two, ShipIt is "more important than the IPO," Cannon-Brookes says. ![]() "Whatever we were doing yesterday, keep doing that today." "It's an exciting day, but we're a disciplined company, and we're disciplined people," Cannon-Brookes says. Since the company sold its shares at $21 but it started trading at $27, that means bankers and some investors made a lot of money on the pop, but Atlassian missed out on around 30% of that value.īut Mike Cannon-Brookes and Scott Farquhar, the company's cofounders and co-CEOs, don't seem to be worrying too much about it. Of course, there's a case to be made that Atlassian left a lot of money on the table. And considering that it was valued at $3.3 billion as a private company, that's especially impressive. ![]() Atlassian basically grew $1.2 billion overnight. ![]()
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