The chief executive of billion-dollar software start-up Employment Hero says he has no plans to take the company public despite annual revenues rising above key benchmarks that suggest it is ready for a listing.
Ben Thompson said the human resources software firm had recorded its first profitable month in December, and annual recurring revenues – a preferred measure for subscription-based companies – had reached $250 million. Despite this, Mr Thompson said there were better options for Employment Hero’s future than a listing on the ASX or Nasdaq.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
