Atlassian's billion dollar bet on WFH
The Australian software giant has just spent a large chunk of its cash reserves on screen recording startup Loom.
There are at least two key takeaways for founders and investors from Atlassian’s USD975 million ($1.5 billion) acquisition of US screen recording startup Loom.
The first is that the Australian software giant behind JIRA, Trello and other products is leaning hard into remote work and distributed teams, despite many of its peers retreating from it.
The second is that the deal is probably a good sign for tech valuations, and may even suggest a bottom has been reached, after a difficult 18 months for the sector.
Loom allows users to record their screens and create videos for work tasks or presentations that can be easily edited and shared across teams.
