Bending Spoons, which owns famous apps and services such as Evernote and Meetup, revealed today that it has secured $155 million in a fresh equity funding round, valuing the company at $2.55 billion post-money.
Durable Capital Partners led the round, with existing investors including Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP (owned by Tamburi Investment Partners) also investing. The corporation stated that it will use the new cash infusion to buy further brands.
Bending Spoons has already begun an acquisition spree this year. In January, the business purchased Meetup, an events startup. Later that month, Bending Spoons CEO Luca Ferrari announced plans to invest $50 million in Meetup over the next few years. He also announced employment layoffs as part of a restructuring initiative, which included relocating the team to Europe and reducing the number of employees in the United States. The corporation did not indicate the actual number of people affected by the move.
At the same time, IAC sold Mosaic, which developed a number of popular mobile apps like Clime, Robokiller, and iTranslate, to Bending Spoons. The company laid off Mosaic’s 330 employees.
Bending Spoons purchased Evernote, a note-taking app, in 2022. In February 2023, Evernote lay off 129 employees. In an effort to improve profitability, the business decided last November to limit Evernote’s free plan to only 50 notes. Bending Spoons also fired off the entire workforce of Filmic, a prominent photo and video editing app that it acquired in 2022.
Bending Spoons also owns brands such as video editor Splice and AI-powered photo editor Remini. The company is expected to generate $500 million in revenue this year.
