| Loom is an excellent piece of software, but from my perspective in IT I've never been able to justify it's ROI. I've been always pushing for it to go away as soon as had to start looking at SaaS spend. Looking at the analytics only a few power users really made use of it while the biggest majority of users never used to record or maybe only recorded 1-2 videos a quarter. It was too expensive and video is very expensive to run on the cloud. Zoom released a competitor recently and that must be killing them. Other companies are also offering cheaper alternatives and egress traffic for video-centric businesses is crazy expensive. They had layoffs not so long ago, like many companies, and during my last negotiations with them they were very aggressive with pricing. Aggressive to the point of their executive team asking what amount we wanted to pay, and they actually committed to the price we offered... Glassdoor reviews and Blind comments weren't good at that time either, but that is true for most companies.
I think they couldn't keep the revenue curve up-to-the-right to offer a decent return to their investors and it was turning more into an OK business.
Time to sell, stay there for a year and move on to start their next thing. For Atlassian is a relevant acquisition, especially as they are also focusing more into chasing freshdesk or zendesk as a customer support platform. I wish them the best, as I said, the product itself was very well designed and engineered compared to any other alternatives out there.
I think they missed to make it relevant and a must have for companies, maybe focusing more to sale to sales and customer experience/support teams which tend to have big budgets compared to other teams. |