Subj : Bending Spoons snaps up WeTransfer as its enterprise software spr
To   : All
From : TechnologyDaily
Date : Thu Aug 01 2024 12:15:05

Bending Spoons snaps up WeTransfer as its enterprise software spree continues

Date:
Thu, 01 Aug 2024 11:05:16 +0000

Description:
Bending Spoons spending spree continues, with WeTransfer its latest 
acquisition.

FULL STORY
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Italian app developer Bending Spoons has acquired online file transfer 
platform WeTransfer as its plan to bolster its portfolio continues. 

The companies announced the acquisition in a joint statement , confirming 
plans to continue supporting give-back campaigns and editorial content by 
reserving 30% of the platforms advertising space for such content. 

Some of Bending Spoons most successful products are tools that serve 
creativity, therefore we are confident that this milestone will complement 
both businesses, supercharge our growth, and help us create even more value 
for creative industries at large," noted WeTransfer CEO Alexandar Vassilev. 
Bending Spoons will acquire WeTransfer 

While financial details of the deal remain undisclosed, this marks Bending 
Spoons fifth acquisition this year. 

The Milan-based tech firm raised $155 million earlier in 2024, boosting its 
valuation to $2.55 billion and helping it to acquire digital publishing 
platform Issuu in July and live streaming app StreamYard in May. 

WeTransfer, founded in 2009 in the Netherlands, boasts 600,000 subscribers 
and 80 million monthly active users. The company had initially aimed for an 
IPO in Amsterdam in 2022, with a valuation target of 716 million, but plans 
were scrapped due to market volatility. 

Luca Ferrari, CEO of Bending Spoons, added: Were enthusiastic about becoming 
[WeTransfers] new owner, and we feel a strong sense of responsibility to help 
the brand and the business thrive for many years to come. 

While the companies have not yet announced any changes, Bending Spoons has a 
history of transforming business models, and not necessarily for the better. 
After snapping up Evernote last year, the Italian bosses limited its free 
plan to 50 notes, pushing more users toward paid subscriptions. 

The acquisition raises questions about both pricing changes and potential 
layoffs. Bending Spoons declined to comment on the acquisition. More from 
TechRadar Pro Weve rounded up the best cloud storage and best cloud backup 
tools Evernote is laying off staff and relocating to Europe Check out the 
best free office software



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Link to news story:
https://www.techradar.com/pro/bending-spoons-snaps-up-wetransfer


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