Atlassian Acquires Loom For $975 Million With Investment From Sequoia And Others

ACQUISITION IMAGE: Joe Thomas, Mike Cannon Brookes, Vinay Hiremath, Scott Farquhar & Shahed Khan DATE: 10/12/2023 BUYER: Atlassian SELLER: Loom SALE PRICE: $975,000,000 (Approx.) NOTE: Atlassian, led by its CEO Mike Cannon-Brookes, has announced its acquisition of Loom, a private video messaging platform, for approximately $975 million. This strategic move enhances Atlassian's suite of team collaboration tools, including Jira and Confluence, by integrating Loom's technology, which empowers users to incorporate video into their workflows. With over 25 million global users, the acquisition is expected to bolster effective communication and collaboration among customers. Loom, with notable investors like Sequoia, Kleiner Perkins, and a16z, specializes in screen, camera, and microphone recording tools for creating and sharing videos. The deal, structured as around $880 million in cash and the rest in shares, is set to close in the quarter ending March 2024 and will be financed through Atlassian's existing cash reserves. Atlassian HQ: Sydney, Australia Loom HQ: #SanFrancisco #California #VentureCapital #JoeThomas #MikeCannonBrookes #VinayHiremath #ScottFarquhar #ShahedKhan #Atlassian #Loom #TradedVC