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Public story · 2026-03-12 · source-backed
1,600 jobs cut (10%), CTO exits, stock down 74% over 12 months. Two AI-focused execs replace the CTO. Even with cloud revenue up 25%+ and 600+ customers at $1M+ ARR, collaboration software is existential when AI compresses project teams. CNBC
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$1.1B cloud revenue, up 29%, stock up 29% on the report (CNBC). Their argument is that AI creates more work and more seats, not fewer. I don't think that's universally true, but it's the strongest data point against the "AI kills seats" thesis, and it deserves to be in the con...
900+ in R&D eliminated. CTO split into two roles. Cannon-Brookes: "self-fund further investment in AI and enterprise sales." Rovo agents launched in Jira open beta the same week — agents that operate within existing Jira permissions, not as external overlays. The restructuring...
Anthropic's 11 Claude Cowork plugins spanning legal, sales, finance, data analysis, marketing, support, and product management erased over $200B in market cap in a single day. Thomson Reuters dropped 16% (biggest single-day loss ever), LegalZoom -20%, Salesforce -7%, ServiceNo...
ServiceNow lost 18% in a single session on April 23. Worst trading day in the company's history. Salesforce dropped 9%. HubSpot, 9%. IBM, 8%. Adobe, 7%. Intuit, 7%. Oracle, 5%. The iShares Expanded Tech-Software ETF shed 5% across the board. CNBC This wasn't one company's earn...
$688 billion in hyperscaler AI capex against $110 billion of revenue. No capex breakeven until 2031 or 2032. Those are Scale Venture Partners' Rory O'Driscoll's numbers from SaaStr AI 2026, and they're the backdrop for the most useful strategy conversation I've read this month...
It went into its August 6 report as one of the most doubted names in enterprise software on a simple bear case: agents write the code, so you need fewer Jira seats. It printed $1.77B in quarterly revenue up 28%, subscription ARR of $6.6B, RPO up 44% to $4.8B, and GAAP operatin...
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