Atlassian Bets $1 Billion on AI-Powered Video
Collaboration and productivity software juggernaut (NASDAQ: TEAM) has agreed to acquire Loom, an asynchronous video-messaging platform, for $975 million.
Loom is very different from standard video-conferencing software. Loom users record and share video messages where they can share their screen, include interactive elements, and make use of AI-powered features. The product is built for distributed, remote workforces that span multiple time zones. Video meetings can be useful, but scheduling can be a headache when employees are scattered around the world.
Loom has over 25 million users and 200,000 paying customers. While Atlassian is paying a steep price for the async video platform, integrating Loom with Jira, Confluence, and the rest of Atlassian's product suite could pay off handsomely in the long run.
Source Fool.com
Atlassian Corp. Stock
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On the other hand, the target price of 135 € is below the current price of 136.0 € for Atlassian Corp., so the potential is actually -0.74%.
