**The Mysterious Case of Bending Spoons: Unpacking the Enigma**
You’ve probably heard whispers about Bending Spoons, the Milan-based tech behemoth that snagged Vimeo for a whopping $1.38 billion. But let’s be real, who are they, what do they do, and how did they manage to amass such an impressive portfolio of recognizable brands?
As we dive into the world of Bending Spoons, we’ll explore the company’s fascinating history, its unique acquisition strategy, and what’s next for this tech giant. Buckle up, folks!
**A Brief History of Bending Spoons**
It all started with Evertale, a Copenhagen-based startup that took part in Disrupt SF 2011’s Startup Alley and secured seed funding for its photo-sharing app, Wink. After Evertale went belly up, its founders and a few staff members decided to keep the good ship sailing, initially working on in-house apps. They made their first acquisition and went on to snap up several more companies between 2014 and 2021.
**The Acquisition Strategy: A Recipe for Success**
Bending Spoons has a clever approach to acquisitions. They identify popular products that they think they can breathe new life into, and then buy them from owners who have reached their limits. After the acquisition, they give the product a makeover, upgrading the user experience, features, tech, monetization strategy, and workforce.
**The Portfolio of Brands: A Who’s Who of Digital Giants**
Bending Spoons has an impressive collection of brands under its belt, including Meetup, WeTransfer, Eventbrite, and Vimeo, to name a few. They’ve made significant changes to these products, like introducing stricter free plan limits and laying off staff to streamline operations.
**The Layoffs: A Bumpy Road Ahead**
Vimeo, one of the companies under Bending Spoons’ umbrella, recently faced a wave of layoffs, affecting a significant portion of the team, including the entire video team. These restructuring efforts are part of the company’s efforts to revamp under new ownership.
**The Road Ahead: IPO and Beyond**
Bending Spoons is planning to continue its acquisition streak, targeting new consumer and enterprise digital products to add to its portfolio. With a fat war chest and confirmed plans to acquire Eventbrite, it’s clear they’re not slowing down anytime soon.
**An IPO on the Horizon?**
Word on the street is that Bending Spoons is interviewing banks to launch an IPO on the NYSE. In November, Ferrari told Reuters that if they do decide to go public, it’ll likely be in the U.S., where tech companies tend to command higher valuations.
**What’s Next? More Acquisition, Layoffs, and Changes Ahead**
As Bending Spoons continues its rapid growth, we can expect more acquisitions, layoffs, and changes to its portfolio of brands. The company is already drowning in job applications – over 600,000 and counting! With plans for an IPO and a growing reputation, it’s clear that this enigmatic tech giant is here to stay.
**Sources and Disclosure**
Check out the sources we used for this article, including MLQ.Ai, Business Wire, Crunchbase, and Bloomberg. Oh, and by the way, TechCrunch’s parent company, Verizon Media, owns Yahoo, which was acquired by AOL, another company acquired by Bending Spoons.
