Exclusive: Why All-Star Investors Think $350 Million Video Startup Loom Is The Next Big Thing In Remote Work Tech
Summary
The company’s cofounder and CEO Joe Thomas says that “Loom and video messaging specifically is like a superpower for employees.” Loom quickly enables workers to provide project feedback or walk someone through a proposal, without having to set an actual meeting. As share-economy juggernauts like Uber and Airbnb undergo layoffs en masse and face an uncertain future in the age of Covid-19, business booms for virtual work companies like Loom. While investors like Kutcher use the platform to provide feedback on startup pitches, some educators now rely on Loom to create lessons for students to review on their own time. As he watched complex investing products and crushing debt spark the Great Recession, he became increasingly disillusioned with the prospect of finishing his degree and pursuing a finance career. In 2012, just shy of graduation, he dropped out of school to move to Santa Monica, California to start a life in tech coding websites.
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