Atlassian Acquires Video Messaging Service Loom for $975 Million

Key Points:

– Atlassian, the global software company, has purchased video messaging service Loom for a hefty price tag of $975 million.
– Loom had previously gained attention in May 2021 when it secured a $130 million Series C funding round, which resulted in a valuation of $1.53 billion.
– This acquisition comes at a time when remote work and communication technologies are in high demand due to the ongoing pandemic.
– Atlassian aims to integrate Loom’s video messaging technology into its existing suite of collaboration tools to enhance the remote work experience for its users.

Hot Take:

Atlassian clearly sees the value in incorporating video messaging capabilities into its collaboration tools, especially in a time when remote work is becoming increasingly prevalent. With this acquisition, Atlassian is not only expanding its product offerings but also signaling its commitment to providing innovative solutions for the changing needs of the workforce. Who knew that recording and sharing videos could be worth almost a billion dollars? The future of work is definitely looking bright, but let’s hope it doesn’t blind us from reality!

Original Article:https://techcrunch.com/2023/10/12/atlassian-to-acquire-former-unicorn-loom-for-975m/