Atlassian, which makes software to help development teams, is buying business video messaging platform Loom in a deal worth $975m. It will see Loom’s technology integrated into Atlassian’s collaboration tools Jira and Confluence.
Loom was founded in the US in 2015 and initially released a Chrome extension that allowed users to record their screen and face and provide a link to the video. It has since evolved into a corporate teams platform enabling hybrid and remote workers to collaborate via asynchronous video messages.
According to Loom, more than five million videos are created every month by its 200,000 customers. Atlassian says integrating this approach to asynchronous communication into its products for knowledge workers can improve collaboration across different time zones and workplaces.
The company says adding video messages and screen recordings to existing tools, including spreadsheets, databases and enterprise software will make it easier to visually log issues, connect with employees at scale and improve communications over platforms and for teams not connected in real time.
Atlassian-Loom deal could help developers
Atlassian gave the example of sales teams being able to create tailored video updates to send to clients, rather than simply sending an email. HR teams could also use video messages to onboard new employees with a personal welcome video and allow developers to log issues and share changes with other teams.
“Loom’s leadership in async video combined with Atlassian’s deep understanding of team collaboration means we can bring innovation to the market and empower our customers to collaborate in richer, more human ways,” Atlassian said in a statement.
Atlassian hopes to close the deal by the end of March next year. In a Loom video, Atlassian co-CEO Mike Canon-Brookes said it would help bridge collaboration gaps for dispersed teams in “deeply human ways”.
As part of the wider integration into Atlassian software, and combined with the work Loom has put into building AI and automation, the company says it will make communication more seamless. The company says customers will be able to seamlessly transition between video, transcripts, summaries, documents and the workflows derived from them.
Loom will continue to operate as a stand-alone product but will also be fully integrated with Atlassian’s suite of tools once the acquisition is complete. A spokesperson for Atlassian said: “Through the power of the Atlassian platform, we can create seamless experiences between every tool our customers use to get work done, with async video being the latest in the toolbelt to help unleash the potential of every team.”
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