- Published on October 24, 2023
- In AI Features
Video SaaS Companies Face A Loom-ing Threat
Loom was acquired by Atlassian at a 36% reduced valuation, whereas Hopin was acquired by RingCentral after a 99% drop in its valuation.
- By Vandana Nair
Software company Atlassian’s recent acquisition of video messaging firm Loom, for $975 million, which is 36% less than Loom’s valuation of $1.5 billion in 2021, throws the spotlight on the fate of video messaging platforms. What witnessed a boom during pandemic, with app usage even hitting 21 times pre-covid levels, video conferencing platforms are losing their lustre post pandemic. This resulted in big tech companies swooping in to seemingly make profitable deals.
Catch When The Hype Drops
Recalling Zoho chief Sridhar Vembu’s personal philosophy of investing in companies when the ‘hype dies,’ seems to be a guiding principle for the latest M&A that has been happening in the video conferencing space.
Atlassian’s biggest deal of buying Loom when the hype around
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Vandana Nair
As a rare blend of engineering, MBA, and journalism degree, Vandana Nair brings a unique combination of technical know-how, business acumen, and storytelling skills to the table. Her insatiable curiosity for all things startups, businesses, and AI technologies ensures that there's always a fresh and insightful perspective to her reporting. She now hosts her tech segment 'Point Break' on AIM Tv.
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