Bending Spoons, the Milan-based tech giant that snapped up AOL and Vimeo, has gone public with a market cap of over $25 billion. While its stock has dipped since then, the company's acquisitions include Meetup, Eventbrite, and WeTransfer, all revamped for financial success through strategic layoffs and price hikes.
Co-founder Matteo Danieli asserts that despite changes, customer retention remains strong. The company’s user base has surged to over 500 million monthly active users, indicating a robust portfolio. Critics argue against the notion of acquiring dead brands, pointing out real customer behavior and integration into a centralized system.
Bending Spoons started by salvaging Evertale's remnants in 2011, eventually acquiring popular products like Evernote and Immuni. Its strategy involves identifying valuable assets to improve from the inside, making it more similar to private equity than venture capital. Pre-IPO, VIP backers included tech giants and celebrities.
Post-acquisition, Bending Spoons actively reshapes these brands, often with controversial changes such as layoffs and price increases. Recent acquisitions like Vimeo and AOL have seen significant staff reductions. Investors are optimistic about the company’s future prospects despite current market fluctuations.
