Atlassian announced this morning that it is acquiring video messaging service Loom for $975 million, the same company that had a $1.53 billion valuation in May 2021 when it announced a $130 million Series C. That was when companies were still thinking about all work being cloud-based and the future looked oh so bright. As times have changed, so has the value of the company, but Atlassian still sees Loom and its 25 million customers, and more than 5 million video conversations per month, as a valuable asset. “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, Atlassian co-founder and co-CEO said in a statement.
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