Atlassian’s shares plunged after quarterly earnings losses last week, but Scott Farquhar says he is ‘jazzed’ at the growth opportunities in the AI era.
Atlassian’s co-founder and co-chief executive Scott Farquhar says the market is ripe for further acquisitions, after Australia’s biggest tech firm bought two companies in a month, and that artificial intelligence innovation must not be stymied by excessive regulation.Mr Farquhar said he remained as excited to run the company today as in its early years, and that it would remain on the front foot in investing for growth.
This involves only buying companies when it would accelerate growth of both parties, and where it was clear that the cultures will gel., announced last month, is still awaiting regulatory approvals, while it is already making plans to integrate the team at Melbourne-based AirTrack, which it also acquired in early October, but confirmed
”We still continue to get plenty of customers coming into our website. Many are signing up for free versions of our products, and that only continues to grow year-on-year. But we just saw them being slower to get out their credit card or hit their 11-user mark into that paid cohort.
He compared the change in capability for tech innovation through AI to the quantum leap in digital services ushered in by widespread adoption of the internet in the dotcom boom era.Mr Farquhar said he was most excited by the opportunity to use AI to help knowledge workers be much more efficient, and for Atlassian to profit from the huge amounts of data across organisations to help it build better AI solutions.
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