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Welcome to Product Monk, a 3x/week newsletter where we share the case studies of the most exciting tech products.

We wrote these three stories last week, hope you love them ❤️:

• The Art of Third-Party Collaboration: Tesla x Panasonic

• Patreon's Retargeting Strategy

• Why Everyone's doing "Co-Pilot"?

🧃Juicy reads to check out

This section includes some relevant articles/videos, people to check out, and links you might find interesting from around Product management.

👉🏻 What is Value Stream Management (VSM) and Why is it Important? (Link)

👉🏻 The Ultimate Guide For Product Insights. (Link).

👉🏻 Setting Good Product Management KPIs (B2B and B2C) (Link)

Loom’s Acquisition by Atlassian

October 12th, 2023: It’s official! Atlassian has acquired Loom for $975 million dollars (which is about a billion dollars 🤯!

Loom is a video messaging tool that allows users to record and share short videos of themselves, their screens, or both. The tool is popular among remote workers and teams, as it allows for asynchronous communication and collaboration. Loom has over 25 million users and its customers record nearly 5 million videos a month.

Atlassian is a software company that develops tools for teams to plan, track, and execute work. Atlassian's products include Jira, Confluence, Trello, and Bitbucket. Atlassian has over 260,000 customers and its products are used by teams of all sizes, from startups to Fortune 500 companies.

What does it mean for Atlassian?

The acquisition of Loom by Atlassian means a number of things for the company.

First, it gives Atlassian a strong foothold in the growing market for asynchronous video collaboration. Loom is one of the leading players in this market, and its acquisition gives Atlassian access to Loom's technology, customer base, and expertise.

Second, the acquisition allows Atlassian to expand its product portfolio and offer its customers a more comprehensive suite of tools for team collaboration. Loom's video messaging capabilities can be integrated into Atlassian's existing products, such as Jira and Confluence, to give users new ways to communicate and collaborate with each other.

Third, the acquisition gives Atlassian access to Loom's team of talented engineers and product designers. Atlassian can leverage this talent to improve its own products and develop new ones that meet the needs of its customers in the age of remote work.

Here are some specific examples of how the acquisition could benefit Atlassian:

• Atlassian could integrate Loom into Jira to allow users to record and share video messages with each other about tickets, tasks, and other work items. This would make it easier for teams to collaborate on projects and resolve issues quickly.

• Atlassian could integrate Loom into Confluence to allow users to embed video messages in documents, presentations, and other knowledge base articles. This would make it easier for teams to share information and collaborate on projects asynchronously.

• Atlassian could use Loom's AI capabilities to automatically generate transcripts and summaries of Loom videos. This would make it easier for users to find and consume the information they need, even if they don't have time to watch the entire video.

• Atlassian could develop new products and features that leverage Loom's video messaging capabilities. For example, Atlassian could develop a new product that allows users to conduct video interviews or host video meetings directly from Jira or Confluence.

What does it mean for Loom?

The acquisition of Loom by Atlassian is a positive development for the company in a number of ways.

First, it gives Loom access to Atlassian's global reach and customer base. Atlassian has over 260,000 customers and its products are used by teams of all sizes, from startups to Fortune 500 companies. This gives Loom a huge opportunity to reach new customers and grow its business.

Second, the acquisition gives Loom access to Atlassian's resources and expertise. Atlassian is a large and well-established company with a proven track record of success. Loom will be able to leverage Atlassian's resources and expertise to improve its products and services, and to develop new ones.

Third, the acquisition gives Loom the opportunity to integrate its products with Atlassian's products. This will create new opportunities for both companies and will benefit their customers. For example, Loom could be integrated with Jira to allow users to record and share video messages about tickets and tasks. This would make it easier for teams to collaborate on projects and resolve issues quickly.

Here are some specific examples of how the acquisition could benefit Loom:

• Loom could reach a larger audience through Atlassian's global reach and customer base.

• Loom could leverage Atlassian's resources and expertise to improve its products and services.

• Loom could integrate its products with Atlassian's products, which would create new opportunities for both companies.

• Loom could collaborate with Atlassian to develop new products and features that meet the needs of its customers in the age of remote work.

Product Acquisitions for Product Managers

Acquisitions can have a significant impact on product managers. On the one hand, they can provide new opportunities for career growth and advancement. On the other hand, they can also be disruptive and lead to job losses.

Here are some of the things that product managers should be prepared for in the event of an acquisition:

• Changes to the product roadmap. The acquiring company may have different priorities and goals for the product than the acquired company. This could lead to changes to the product roadmap, which product managers will need to adapt to.

• Integration of products and teams. The acquiring company may need to integrate the acquired product with its existing products and teams. This can be a complex and challenging process, and product managers will need to play a key role in ensuring that it is done successfully.

• Cultural changes. The acquiring company may have a different culture than the acquired company. This can lead to changes in the way that product teams work and the way that decisions are made. Product managers will need to be flexible and adaptable in order to thrive in this new environment.

Here are some specific tips for product managers during an acquisition:

• Stay informed. Talk to your manager and other stakeholders to learn as much as you can about the acquisition and what it means for the product and the team.

• Be proactive. Don't wait for the acquiring company to tell you what to do. Take the initiative to learn about their products, processes, and culture.

• Be flexible and adaptable. The acquisition process can be unpredictable and things may change quickly. Be prepared to adapt your plans and approach as needed.

• Communicate with your team and stakeholders. Keep your team and stakeholders informed about the acquisition and the impact it is having on the product and the team.

• Focus on the customer. Remember that the goal of the acquisition is to improve the product and deliver more value to customers. Keep your focus on the customer at all times.