Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Atlassian Acquires Loom

atlassian.com

Post reply on HN
Print view View original

351–360 of 408 posts

Re: Atlassian Acquires Loom

#351

Post by neilv »

cj wrote: post #348
neilv wrote: post #331

Earlier quoted context omitted.

If I want to found a VC-funded startup for which a successful exit is much more fair to the employees, how do I do that? Will the investors insist that it all come out of the founders' percentage of the pie, or can I argue that the better-incentived employees mean a bigger and more likely pie, so VC terms shoudl be less grabby? Will VCs react negatively to "being soft on" employees, even if it all comes out of founde…

> how do I do that? The only good answer to this is 1) don't raise more VC money than you really need, and 2) don’t raise money at a valuation way above what your company is actually worth. The problem in the scenario here is that they sold for below the valuation of their last funding round, and the size of their last funding round was ginormous. When you raise hundreds of millions at a $1.5b valuation, you’re expec…

Can I still attract VC, if I'm arguing for more modest valuations than competing lottery-ticket startups are?

Or do I have to look like much more a traditional fundamentals investment, than a semirandom lottery ticket (or growth scam to exit)?

Re: Atlassian Acquires Loom

#352

Post by doctaj »

Metus wrote: post #82
dewey wrote: post #40

Earlier quoted context omitted.

I wish people would just record a video and showing what is causing them a problem. It's better than writing "I'm trying to do x and it doesn't work". At least on a video I can see the exact error message, the view they are on which browser they are using etc. You can condition people to give you all this information but it's an uphill battle, so I'd rather just get it myself from the source if possible. I feel like…

I am still dreaming of something that would allow a user to file a ticket, have them record audio and video like loom to describe the issue and what they were trying to achieve, and then dump a screen record of the last minute before opening the ticket as well as as much info about the machine's state as possible. And/or maybe connecting to helpdesk with video directly. Existing software comes close but is not quite…

Azure DevOps has a browser extension that can this except record audio of the person speaking what’s happening. Also, the user experience is fine for like… power users, but it’s not super fun to use.

Re: Atlassian Acquires Loom

#353

Post by MenhirMike »

TheRealDunkirk wrote: post #21
athorax wrote: post #4

Who is asking for this? As Atlassian consolidates Loom into its platform, engineers will soon be able to visually log issues in Jira, leaders will use videos to connect with employees at scale, sales teams will send tailored video updates to clients, and HR teams will onboard new employees with personalized welcome videos

Good grief. If the age of YouTube has taught us anything, it's that creating good video of something takes a lot more skill than writing something decent about something. Trying to find the relevant issue in a bunch of unrelated info, within a long writeup, which a user necessarily edits, at least a little, by the nature of writing something out? Pretty easy. Trying to find it in a rambling, 15-minute video? Welp! Go…

I am going to assume that the userbase of Loom doesn't need to pad videos to 10 Minutes because the algorhithm only suggests videos that have enough space for ads, and I've never heard "Make sure to like and subscribe" and "You can edit your privacy settings here. Speaking of Privacy, did you know that your ISP can read all your stuff? Sign up for a free month of BarfVPN using my link" in any of the videos attached to pull requests or bug reports.

Re: Atlassian Acquires Loom

#354

Post by becurious »

the8472 wrote: post #75
athorax wrote: post #4

Who is asking for this? As Atlassian consolidates Loom into its platform, engineers will soon be able to visually log issues in Jira, leaders will use videos to connect with employees at scale, sales teams will send tailored video updates to clients, and HR teams will onboard new employees with personalized welcome videos

> engineers will soon be able to visually log issues in Jira I already use windows game mode for screen captures. Why would I need a separate application for that?

I used to do that but you can record screen video with the Snipping Tool now. Works fine, mp4 file as output.

Re: Atlassian Acquires Loom

#355

Post by askafriend »

m3kw9 wrote: post #281

If you have a mac, buy Compressor app from Apple set up Folder watch, use Zoom to start an empty video meeting to show video of yourself, minimize(shift cmd m) and float(cmd alt f) the zoom window, then use MacOS screen record(cmd shift 5) to record. I can get this screen grab setup up running in 10 seconds. You don’t need Loom for most cases

Great trolling, almost got me for a second.

99% of people would get bored and frustrated by step 3 from what you listed.

Re: Atlassian Acquires Loom

#356

Post by FreakLegion »

drexlspivey wrote: post #311
sushid wrote: post #290

Earlier quoted context omitted.

Why are they underwater? The "value" of their options would have been the preferred share - common share price. So it would have been a fat haircut but likely still netted them some number > common share price, no?

The options are worth common share price - strike price. If the strike is higher they are worth zero

At exit the preferred shares become common, and the common shares increase in value accordingly. I've seen even series E companies that kept their common share price to under 20% of the preferred share price. If you started on day X with a common share price of 20% of the last preferred share price, and the company was acquired on day X + 1 at a discount, say 60% of the last preferred share price after factoring in liquidation preferences, then your profit from the options is still 2x the strike price.

Loom is an odd case because the timing of their last round was simply perfect. It was announced in May 2021, which means the terms would've been set in Jan or Feb, when Tiger and other firms were on a rampage and competition to get into rounds was at its height. That last $130m has to have been on very favorable terms, not just the valuation but e.g. no crazy liquidation preference. So, unless Loom's founders made some inexplicably bad deals, I'd expect even recent hires to still make a little money. Nobody should be getting zeroed out.

Re: Atlassian Acquires Loom

#357

Post by toomanyrichers »

lmeyerov wrote: post #334
toomanyrichers wrote: post #298

Earlier quoted context omitted.

Yes. For instance, at an early stage company I co-founded, we saw 409A of 10% of the most recent priced round.

yes, this is very much stage-specific by the time of these $100M+ rounds for $1B unicorns to hire a lot of people, the 90% discount is long gone

Totally, I am sad to say my companies have never reached a 100MM round, so I wouldn’t know.

Re: Atlassian Acquires Loom

#358

Post by wharfjumper »

andygcook wrote: post #2

For anyone else curious, Loom raised $205M with the last round at a $1.5B valuation. This deal is for $975M in cash. Sources: - https://www.crunchbase.com/organization/loom - https://www.forbes.com/sites/stevenli1/2022/03/14/nearly-bro... - https://twitter.com/andrew__reed/status/1712458243883110599?... (Edit: formatting)

So someone spent $205m in 2021 and got $133m back in 2023? My guess is that Atlassian does a similar write down in a few years time. I hope the winners in this deal try to make the world a better place.

Re: Atlassian Acquires Loom

#359

Post by kirubakaran »

latchkey wrote: post #297
malfist wrote: post #273

Earlier quoted context omitted.

You don't have to drink the koolaide to be a productive member of the team. Drinking the koolaide doesn't mean you'll be a productive member of the team. Pretty pointless of a filter

Did you mean to say the same thing two different ways? > koolaide In reference to the product, it is Kool-Aid.

Also, to be extra pedantic (why not), it should be Flavor Aid

https://en.wikipedia.org/wiki/Jonestown#Deaths_in_Jonestown

Re: Atlassian Acquires Loom

#360

Post by y_gy »

wferrell wrote: post #259
y_gy wrote: post #209

Earlier quoted context omitted.

This comment misunderstands how liq pref works. Liq pref is about the amount of money invested ($175M), not about the valuation. At a $975M exit and a par-for-the-course liq pref of 1.0, it is very likely that all shareholders will have made money on the exit.

Are you counting employees that joined after the 1.5B valuation? I am sure they made money but not what was expected (exiting above 1.5B). How are you determining par for the course liq preference of 1.0? Where does that data come from? I ask genuinely as the small sample of companies I know of personally have liq preferences greater than 1.

Liq pref > 1 was extremely uncommon in the last 5 years.

Employees who joined after the 1.5B valuation will have made money because the strike on their options is set by the 409A, which will have been far, far less than 1.5B. Preferred stock price is not the same as 409A common price.

Post reply on HN