> My immediate reaction was that value-wise it was a joke, how can they be worth $1 billion?
It's probably way more about the in to the large install base of users to start pushing other Atlassian suite products on.
"Hey there happy Atlassian (formarly Loom) customer, since you're now in our ecosystem where products go to die, may we interest you in a Jira or a Confluence? They come with a complementary week of consecutive downtime on the house!"
Don't forget forcing everyone to their SaaS offering only to be shown not to have a validated disaster recovery plan that resulted in almost 2 weeks (4/5-4/17) of consecutive downtime for many customers. Cherry on top was the 57 customers they screwed up the backup restore for and brought back older data. By the time they realized it they had to work with the customers to merge the newer backups with the changes they'd made since the initial restore.
It's probably way more about the in to the large install base of users to start pushing other Atlassian suite products on.
"Hey there happy Atlassian (formarly Loom) customer, since you're now in our ecosystem where products go to die, may we interest you in a Jira or a Confluence? They come with a complementary week of consecutive downtime on the house!"