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Joining forces โœŠ๐Ÿผ

It's official! Loom, the leading cloud-based video recording software, is now a part of the Atlassian family, the same company behind Jira, Trello, and Confluence.

This acquisition marks a significant milestone in their journey toward providing innovative and efficient solutions for team collaboration.

View the announcement by Loom co-founders Joe Thomas and Vinay Hiremathm here.

What sparked this dynamic duo? ๐Ÿคท๐Ÿฝ

The relationship between Atlassian and Loom runs deep into the company's early days. In the announcement, Loom co-founder Joe Thomas described Atlassian as "being one of the biggest and earliest believers of Loom."

"It was five days after we launched in June of 2016 that the first Atlassian [employee] signed up and started sending Looms to the rest of the company. Since then, they were the first company to enter [into] an enterprise license agreement with us, and then they were the first ones to purchase Loom "wall to wall" for every single employee at Atlassian." - Joe Thomas (โ€œLoom Is Joining Atlassianโ€, 2023)

A picture of co-founders Joe (left) and Vinay (right)
A picture of co-founders Joe Thomas (left) and Vinay Hiremathm (right) sending you peaceful vibes | Photo Cred: Loom

Both companies' missions align flawlessly, focused on enabling workforces to communicate and collaborate more effectively and achieve greater productivity. Atlassian's Jira, Trello, and Confluence software provide end users with a suite of work and knowledge management tools that cultivate team synergy at every facet of an organization. Loom offers teams an efficient means to communicate with others through video, embedding them into projects, tasks, emails, documents, and just about anywhere where teams collaborate. The marriage between Loom and Atlassian's toolset is a testament to the close relationship between coordination, collaboration, and communication.

The Future of Loom and Atlassian ๐Ÿš€

What's refreshing about this acquisition is that the decision seems organic and completely mutual. While we don't know the financial factors driving the change (Atlassian is a public company, but Loom is not), the announcement is expected to shed light on the financial elements involved in the drastic move. Regardless, this solidified partnership has the potential to significantly enhance workflow efficiency, team collaboration, and overall productivity. With Loom's powerful video messaging capabilities, Atlassian's users are already communicating and collaborating more effectively, especially in remote or decentralized work settings. It will be interesting to find out how Atlassian will infuse technologies to innovate the interplay between video communications and work management activities, empowering teams to focus on delivering high-quality results while leveraging both toolsets.

Desktop recording
Desktop Recording | Photo Cred: Loom

The overarching and pressing question is, will the acquisition be a purely financial decision? Or, are both companies poised to further revolutionize how teams work and collaborate, making it easier, faster, and more efficient than ever before?

Potential downsides ๐Ÿค”

While this event brings many benefits, it's no secret that acquisitions aren't always as successful as they're often hyped up to be. First, the news hits the press. Next, both parties often boast about the positive outcomes they expect from the acquisition. Then, for some companies, nothing seems to change, and the market hype turns into an unsettling silence. This leaves customers wondering what the original intentions of the acquisition were and what the expected outcomes should have been.

In the beginning, major changes to the core product are not usually immediate. This is because it involves a massive effort to facilitate a transition that becomes everyone's main focus. Both Loom and Atlassian employees face an enormous change management effort. Companies have to deal with changes to fundamental HR practices, payroll, and shifts in the C-Suite in such circumstances. All of these factors can impact the work experience and livelihoods of employees. However, this does not mean that Loom and Atlassian are doomed to struggle like other less successful acquisitions. There are certainly many challenges ahead for a private company being acquired by a public behemoth in the SaaS productivity space that must be overcome.

It's also not uncommon for pricing changes to occur either. These changes can have an impact on both existing and new customers. Existing customers may experience adjustments in their subscription fees or pricing plans, while new customers may encounter different pricing structures altogether. Whatever happens, both companies have a track record of announcing changes to customer bases across as many channels as they can to help ensure a smooth transition for all users.

A photo of an Atlassian office space
Atlassian Office Space | Photo Cred: Atlassian

Great things ahead ๐Ÿ„๐Ÿผโ€โ™€๏ธ

The merger of Loom and Atlassian is set to bring about exciting improvements in workflow efficiency, team collaboration, and overall productivity. By joining forces, the two companies will be able to offer their users a more seamless and integrated experience, empowering teams to work more efficiently and effectively. While there may be some challenges ahead, the future looks bright for this dynamic duo as they continue to innovate and push the boundaries of what's possible in the world of business collaboration.

What do you think about this acquisition? Will it bring about positive results for digital collaboration? Comment your thoughts below. ๐Ÿ‘‡


Thanks for reading! ๐Ÿ™๐Ÿฝ

We invite you to explore other blog posts to discover more insights, concept breakdowns, tips, reviews, and news related to team collaboration and productivity. Happy reading! ๐Ÿค“

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Last published

Nov 10, 2023




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