Bending Spoons, a Milan-based expertise firm that operates main digital merchandise like Evernote Meetup, Remini, Splice, and StreamYard, is powered by cutting-edge AI and engineering serving 100 million month-to-month energetic customers. Right this moment, the corporate introduced the acquisition of Issuu, the famend digital publishing platform.
Joe Hyrkin, CEO of Issuu, commented on the acquisition, stating, “Issuu has grow to be the main digital publishing platform, with a couple of million creators and entrepreneurs utilizing the platform yearly and 100 million distinctive customers monthly consuming Issuu-processed content material. Issuu has grow to be the de facto customary for any firm or writer that desires to digitally attain and develop its viewers. Given Issuu’s standing as a worthwhile and rising firm, Bending Spoons is uniquely positioned to dramatically prolong Issuu’s attain and the influence we will supply to companies globally.”
Luca Ferrari, CEO of Bending Spoons, expressed his enthusiasm for the longer term collaboration: “We’re impressed by what the Issuu workforce has achieved over time, and we’re passionate about its future prospects. By leveraging Bending Spoons’ experience and platform applied sciences, we consider we may also help Issuu progress additional.”
The acquisition was supported by numerous authorized and monetary advisors. Issuu, funded by Heartcore Ventures and KDDI Open Innovation Fund, was assisted on authorized issues by Goodwin Procter and had Lightning Companions as its unique monetary advisor. Bending Spoons obtained authorized help from Willkie Farr & Gallagher LLP for US and Germany, Kromann Reumert in Denmark, and Pérez-Llorca in Portugal. EY Advisory SpA assisted with monetary and tax due diligence.
Bending Spoons has been on a gentle rise in recent times. In 2022, they introduced the acquisition of the favored note-taking and task-management app Evernote. That very same 12 months, they surpassed $100 million in annual income and raised $340 million in one in all Italy’s largest funding rounds. This 12 months, Bending Spoons raised $155 million in its newest fairness financing spherical, with Sturdy Capital Companions LP becoming a member of present traders Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP. This funding spherical has pushed Bending Spoons to a post-money valuation of $2.55 billion.