Atlassian, the company behind communication tools for developers (such as Jira, Trello, Confluence), has announced the acquisition of Loom, a video messaging app, for a total value of $975 million. This move aims to integrate short video communication into Jira and their other software.
According to Atlassian, the popularity of asynchronous video communication has been steadily increasing and is seen as a complement to other forms of communication such as text and file presentations. Atlassian envisions its use in scenarios like software developers explaining issues through video and documenting them in Jira, executives communicating via video with employees across the company, salespeople delivering video presentations to clients, and HR departments using video to communicate with new employees.
Loom is a prominent player in this market, with over 25 million users and 5 million videos uploaded monthly. Its acquisition by Atlassian will allow for the enhancement of team communication capabilities.
Loom’s services will continue as usual and will gradually be integrated with Atlassian’s platform once the acquisition is complete.
The idea of sharing short video clips as an alternative to chat or meetings is becoming increasingly popular. Other companies in the enterprise communication space, such as Dropbox (with their recent transformation into Dropbox Studio), Slack Clips, and Zoom Clips, are also incorporating similar features.
TLDR: Atlassian has acquired Loom, a video messaging app, for $975 million, to integrate short video communication into Jira and other software. Asynchronous video communication is gaining popularity, and companies like Dropbox, Slack, and Zoom are also incorporating similar features.