TikTok-for-business unicorn Loom moves into Australia

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Andreessen Horowitz-backed workplace video communications unicorn Loom is putting boots on the ground in Australia for the first time.

US workplace video communications unicorn Loom is putting boots on the ground in Australia for the first time as part of a major growth push in the region.

“We were constantly hearing great feedback from organisations adopting Loom in Australia, so we looked at how we could accelerate that success. The proliferation of video content on social media continued to grow, with Instagram introducing stories in 2016 and TikTok beginning to take off in 2018. Less than six years since its product went live in mid-2016, Loom now has more than 14 million registered users and 200,000 companies signed up spanning 190 countries.But, it hasn’t all been smooth sailing. The company was close to running out of money in 2016, with Hiremath having maxed out his credit cards, but a decision to launch its video product on product discovery website ProductHunt saved the company and got it the early traction it had been missing.

 

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