Atlassian bets $1.5 billion on the future of hybrid work with Loom acquisition

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Atlassian founders Mike Cannon-Brookes and Scott Farquhar. Source: supplied.

Australian workflow management giant Atlassian has acquired US video messaging platform Loom for $1.5 billion, reaffirming its faith in asynchronous meetings and remote work options.

Loom, founded in 2016, is a platform allowing workers to replace traditional meetings with video messages attached to text presentations and slideshows.

Like other tech firms promising remote work solutions, Loom experienced rapid uptake through the COVID-19 pandemic, as worldwide public health restrictions forced more teams to work remotely.

It now counts around 25 million users, who record and share 7 million video messages per month.

Atlassian says the acquisition will integrate Loom into its existing product lines, including Jira, Confluence, and Trello, allowing teams using those platforms to more easily share information and insights.

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