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 platform’s 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: “We’re enthusiastic about becoming [WeTransfer’s] 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.
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