NEW YORK (AP) -- Shares of Atlassian soared in their U.S. stock market debut Thursday valuing the Australian software maker at more than $5 billion.
Atlassian is the company behind HipChat, a private group chat and instant messaging service used by businesses. It also offers online software that lets co-workers work on documents together. Atlassian says it has more than 860 customers who spent $50,000 or more in 2015, including credit card issuer Visa Inc. and electric car maker Tesla Motors Inc.
The Sydney-based company raised $462 million in its initial public offering, selling 22 million shares at $21 per share. Its stock is trading on the Nasdaq stock exchange under the ticker symbol "TEAM."
Shares of Atlassian Corp. rose $6.60, or 31.4 percent, to $27.60 in afternoon trading Thursday.