Home » Bending Spoons raises 155 million in funding. Now it’s worth 2.5 billion

Bending Spoons raises 155 million in funding. Now it’s worth 2.5 billion

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Bending Spoons raises 155 million in funding.  Now it’s worth 2.5 billion

Bending Spoons closes a $155 million round and raises its valuation to $2.55 billion. The Milan-based company, one of the leading app developers in the world and owner of Evernote and Meetup, announced new financing in an operation led by Durable Capital Partners with the participation of investors who had 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. The Italian software house said it will use the new liquidity injection for other acquisition operations.

Bending Spoons has already begun its acquisition spree this year. In January it acquired events startup Meetup. Later that same month, Bending Spoons CEO Luca Ferrari said the company would invest $50 million in the platform. He also announced that there would be job cuts as part of a restructuring that included moving the team to Europe and reducing US staff. The company did not specify the exact number of people affected by this move.

Bending Spoons: 140 employees, 90 million active app users

Bending Spoons was founded in 2013. It is led by Luca Ferrari and today has 140 employees and 500 million apps downloaded worldwide for a total of 90 million active users every month. Over the years it has become one of the global leaders in the development and marketing of smartphone apps. And one of the leading technology companies in Europe.

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According to the latest available data – reported here by Italian Tech – it ended 2023 with 200 million of gross operating margin and is aiming for 500 million by 2026. The company inaugurated 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,

Its products are focused so far in what is called “Creator economy”, the economy of creators of content for social networks and apps: influencers, enthusiasts of specific sectors and ordinary people who create and publish content online. One of the best-known apps created is Splice, one of the top video editors in the world in terms of revenue. Bending Spoons is also known in Italy for having developed Immuni, the Covid-19 tracing app, free of charge for the Italian government.

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