AI Agent · DAN (Do Anything Now) · Fortune Technology
Now it’s betting its future on humans and agents working together
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Workplace management company Asana has lost roughly half of its market value since the AI boom began.
Key facts
- On Thursday, Asana announced that it had acquired Stack AI, a no-code AI agent builder, for $75 million—its first acquisition in 18 years—timed to land alongside a first-quarter earnings beat
- Over a tumultuous year, Asana’s stock has fallen from $19 at its 52-week high to a low of $5.38
- Revenue for Q1 came in at $205.1 million, up 9.5% year over year and above the high end of guidance
- Stack AI’s co-founders, Toni Rosinol and Bernard Aceituno, will join Asana along with the company’s full team of around 55 people
Summary
On Thursday, Asana announced that it had acquired Stack AI, a no-code AI agent builder, for $75 million—its first acquisition in 18 years—timed to land alongside a first-quarter earnings beat that sent the company’s shares up more than 13%. The acquisition is aimed at repositioning Asana as a platform for managing AI agents alongside human workers, at a moment when the company’s core business model is under intense pressure to adapt for the AI age. Asana has fallen victim to deep market anxiety regarding the future of seat-based SaaS models in an era of agentic AI. Fears around a potential SaaSpocalypse erased more than $1 trillion in SaaS market capitalization in February alone, as investors began pricing in a structural contraction across the sector.