Bending Spoonsa Milanese company among the main app developers in the world, after having achieved a maxi round of 155 million dollars a few weeks ago, would be close to a new coup, the purchase of Vimeoan American hosting giant worth around 816 million dollars.
The news leaked from the sources of Bloomberg, he adds that the Milanese company would be in negotiations with the banks for the financing of the potential acquisition transaction. Vimeo was spun off from Barry Diller’s IAC/InterActive Corp. in 2021.
The operation comes at a time when the platform Vimeo is experiencing a significant decline in its market value, around 90% since he started trading. The news led to volatile trading, with Vimeo shares initially rising as much as 9.2% before plunging. Currently, Vimeo’s market capitalization is around $816 million.
Therefore, Bending’s move would be the right move at the right time to further expand its portfolio.
Bending Spoons, 155 million in February and new acquisitions
Just a few weeks ago (February 15, 2024) Bending Spoons closed a $155 million round, bringing its valuation to $2.55 billion. In an operation led by Durable Capital Partners with the participation of investors already invested in the company such as Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital and StarTIP (controlled by Tamburi Investment Partners) and the family office Cherry Bay Capital Group.
It is no coincidence that on this occasion Benidng specified that he would use the new liquidity injection for other acquisition operations. And the CEO himself, Luca Ferrari, had declared on the site’s blog: “You will hear more about us”.
In August 2023 it closed a maxi round of 100 million euros which saw the entry into the capital of the Baillie Gifford, NB Renaissance and Cox Enterprises funds. Some important family offices and private equity funds have also invested in the company, such as Tamburi Investment Partner, H14 (Berlusconi family), Nuo Capital and Cherry Bay Capital, which also completed the acquisition of a second stake in the startup. Some notable private investors also participated in the capital injection, including actor Ryan Reynolds, former Google number one Eric Schmidt, and Andre Agassi through his foundation.
Two acquisitions in 2022. With Vimeo reshaping mobile app development and video hosting
This round follows another $340 million fundraising, which closed in September 2022.
Not only. The company ushered in 2024 with two acquisitions. The first is that of Mosaic Group, a company controlled by IAC specialized in mobile software and announced last January 5; the second concerns the purchase of Meetup, the social network with 60 million members, which connects groups of people all over the world through their interests, from books to games to politics, and announced on January 26th and whose figure was not disclosed.
Bending Spoons’ potential acquisition of Vimeo could reshape the landscape of mobile app development and video hosting services. And above all it brings to the fore the Milanese company’s ambition to diversify and strengthen its portfolio in the face of “very” dynamic market conditions.