But last June, the company had let go 14% of its employees a year after it joined the unicorn club. He said that this “acquisition has come at a time when Loom’s financials and growth are very strong”. We are now doing over 7 million looms recorded per month,” he said on X. “To put the longevity and growth of the relationship into perspective, Atlassian was all-in on Loom when we were doing just under 1 million looms per month in 2019. Loom’s co-founder Vinay Hiremath said that Atlassian has been a long and true believer of Loom. The startup had raised nearly $204 million since 2016 but as times changed, so did the company’s value. The San Francisco-based company boasts Sequoia, Kleiner Perkins and a16z among its investors but has not had a good tiding monetarily in the recent past. Loom’s tools let users record their screens, camera and microphone to make and share videos. Loom’s primary innovation lay in facilitating asynchronous video communication, enabling individuals to message their peers, who could then respond at their own convenience, thereby offering an alternative to real-time meetings and conferences. Over time, it was widely adopted, particularly among companies with dispersed workforces. The acquisition news has not been well received as Loom’s valuation has dropped post pandemic, whereas Atlassian still sees its 25 million customers, and more than 5 million video conversations per month, as a valuable asset.īack in 2016, Loom emerged as a pioneering web-based tool designed to capture a user’s facial expressions and on-screen activities, simultaneously. “Async video is the next evolution of team collaboration, and teaming up with Loom helps distributed teams communicate in deeply human ways,” Mike Cannon-Brookes, co-founder and co-CEO of Atlassian, stated while announcing the deal. The goal is to facilitate collaboration among individuals, irrespective of their geographical locations and time zone differences. Their users will be able to move between recorded clips, transcripts, summaries documents and workflows. In the official press release, the duo announced that their joint investments in AI would enhance asynchronous video capabilities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |