Bending Spoons, a Milan-based knowledge company behind popular digital products such as Evernote Meetup, Remini, Splice, and StreamYard, leverages cutting-edge artificial intelligence and engineering to serve a community of over 100 million active monthly users. Recently, the corporation announced the acquisition of Issuu, a renowned digital publishing platform.
Joe Hyrkin, CEO of Issuu, said in a statement that
Luca Ferrari, chief executive officer at Bending Spoons, warmly endorsed the prospect of a long-term partnership.
The acquisition was backed by a team of experienced authorized and financial advisors. Issuu, backed by Heartcore Ventures and the KDDI Open Innovation Fund, received support from Goodwin Procter on legal matters and enlisted Lightning Company as its exclusive financial advisor. Bending Spoons obtained authorized help from Willkie Farr & Gallagher LLP for US and Germany, Kromann Reumert in Denmark, and Pérez-Llorca in Portugal. As part of its advisory services, EY Advisory SpA provided expert support in conducting comprehensive monetary and tax due diligence assessments.
Bending Spoons’ growth has been steadily increasing over recent years. In 2022, the company acquired a popular note-taking and task-management application. In the same year, they exceeded $100 million in annual revenue and secured a massive $340 million investment in one of Italy’s largest funding rounds to date. In its latest fairness financing round, the company has secured investments from a diverse group of new and existing investors, including Sturdy Capital Partners LP, Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTip. The latest funding round has propelled Bending Spoons to a post-money valuation of $2.55 billion.
