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The Unknown Giant Acquiring Your Favorite Apps
3 Dec
Summary
- Bending Spoons acquired Eventbrite for $500 million.
- The company transforms underperforming tech brands.
- Bending Spoons is now valued at $11 billion.
Milan-based Bending Spoons has significantly expanded its reach by acquiring Eventbrite for $500 million, a move that adds the event ticketing platform to its collection of prominent consumer tech brands. This acquisition underscores Bending Spoons' strategy of identifying and revitalizing underperforming, yet popular, digital businesses.
The 12-year-old company, now valued at $11 billion, operates with a unique model: it acquires established brands, implements internal improvements to their technology and user experience, and aims to own them indefinitely. This approach has led to significant transformations, and sometimes restructuring, of companies like Evernote and WeTransfer.
With a growing roster of influential digital products, Bending Spoons, though largely unrecognized by the public, has become a major force in the tech industry. Its recent funding rounds and aggressive acquisition strategy signal a continued ambition to reshape the digital landscape.
