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Bending spoonsowner of popular apps and services like Evernote and Meetup, today announced it has raised $155 million in a new equity funding round for a post-funding valuation of $2.55 billion.
Durable Capital Partners led the round with participation from existing investors, such as Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital and StarTIP (controlled by Tamburi Investment Partners). The company said it would use the new cash infusion to acquire more brands.
Bending Spoons has already started its acquisition spree this year. In January, the company startup Meetup event acquisition. Later that month, Luca Ferrari, CEO of Bending Spoons, said the company would invest $50 million in Meetup in the coming years. He also announced that there would be job cuts as part of a restructuring effort that included moving the team to Europe and reducing U.S. staff. The company did not specify the exact number of people affected by this decision.
At the same time, IAC sold Mosaic, which created a suite of popular mobile apps such as Clime, Robokiller and iTranslate, to Bending Spoons. The company laid off all 330 Mosaic employees.
In 2022, Bending Spoons acquired Evernote note-taking app. In February 2023, it laid off 129 people the note-taking startup team. Last November, the company decided to restrict Evernote’s free plan for just 50 notes in an effort for better monetization. In December, Bending Spoons also laid off the entire staff of Filmic, the popular photo and video editing app it acquired in 2022.
Bending Spoons also owns brands such as video editor Splice and AI-powered photo editor Remini. The company is said to be considering $500 million in sales this year.
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