A little goes a long way: Why Atlassian is encouraging startups to pledge 1% of their equity to charity

Social impact and philanthropic gestures have long gone hand-in-hand with the world of startups, as billion-dollar companies and investors strive to put their wealth to good use.

Bill and Melinda Gates’ foundation has all but eradicated polio, Salesforce founder Marc Benioff and his wife Lynne have donated millions to healthcare organisations, and Warren Buffett has donated over $40 billion dollars since the turn of the century.

And while this may seem to many like the exclusive realm of the mega-rich and mega-successful, the founders of Aussie startup success story Atlassian say they want every company, big or small, to do their bit for charity.

This is in part because Mike Cannon-Brookes and Scott Farquhar have been doing their bit for charity since the early days of the company, creating the basis for what’s known today as the Atlassian Foundation just a few years after the company’s founding in 2002.

Speaking to StartupSmart, head of the Atlassian Foundation Mark Reading says the two’s philanthropic efforts date back to the SaaS company’s formative years, with the two founders pledging from early on to follow Marc Benioff’s 1-1-1 model of giving back. Read more

Dominic Powell - SmartCompany - 19 October 2018