Vimeo, a cornerstone for independent creators and professional videographers, recently experienced a sweeping round of workforce reductions, impacting a significant portion of its staff, including its entire video team. This dramatic restructuring follows the video-hosting platform’s acquisition by Bending Spoons, a Milan-based technology conglomerate that finalized its $1.38 billion all-cash purchase in the latter half of 2025. While the name Bending Spoons may not resonate with the general public, the firm has rapidly established itself as a formidable, albeit often overlooked, player in the global tech landscape, systematically accumulating a diverse portfolio of well-known digital brands.

The Rise of a Digital Conglomerate

Bending Spoons, a company that has operated largely under the radar for over a decade, has cultivated a reputation for acquiring popular yet sometimes underperforming digital assets. Its strategy often involves significant operational overhauls, including workforce adjustments and product modifications, aimed at enhancing efficiency and profitability. This approach has been observed across its growing collection of assets, which now includes platforms like Meetup, WeTransfer, and Eventbrite, among others. The firm describes itself not as a traditional private equity entity, but rather as a company dedicated to acquiring and transforming digital businesses, emphasizing a long-term ownership perspective rather than quick flips.

The genesis of Bending Spoons traces back to the remnants of Evertale, a Copenhagen-based startup that made an appearance at Disrupt SF in 2011 and secured seed funding for its photo-sharing application, Wink. Despite initial promise, Evertale ultimately did not succeed. However, its founders, Luca Ferrari, Matteo Danieli, Luca Querella, and Francesco Patarnello, along with a few key employees, chose to continue their collaboration. Their initial endeavors focused on developing in-house applications before shifting decisively towards an acquisition-driven model. This pivotal change marked the beginning of Bending Spoons’ journey into becoming a prolific acquirer of established digital products, a strategy detailed by CEO Luca Ferrari in a rare public interview.

While the company’s primary focus remains on refining and optimizing products developed by others, Bending Spoons made a notable exception in 2020. During the height of the COVID-19 pandemic, it developed and donated Immuni, Italy’s official contact-tracing application, demonstrating its technological capabilities and a commitment to public service in a time of crisis. This deviation, however, was an anomaly in a business model otherwise laser-focused on its core strategy: identifying popular digital products ripe for improvement and acquiring them from owners seeking an exit or facing challenges in scaling.

A Distinctive Acquisition Playbook

Bending Spoons’ operational blueprint is characterized by an active, hands-on approach post-acquisition. The firm delves deep into various facets of the acquired business, meticulously analyzing and often revamping user experience, product features, underlying technological infrastructure, and monetization strategies, including pricing models. Crucially, this often extends to significant reorganization of the team structure and headcount. This aggressive pursuit of efficiency and revenue optimization draws parallels with traditional private equity strategies, yet Bending Spoons distinguishes itself by asserting an intent to "hold forever," maintaining that it has never divested an acquired business. This long-term vision positions the company as a builder of a permanent, evolving portfolio rather than a temporary steward.

The targets of Bending Spoons’ acquisitions are not necessarily failing enterprises. Many possess substantial user bases and generate considerable revenue. However, they frequently exhibit characteristics of stagnation, neglect, or are owned by entities seeking to divest. The firm’s ability to identify such opportunities, often at valuations significantly lower than their peak, and subsequently implement its transformation playbook, has been central to its rapid growth and increasing influence.

A Growing Portfolio of Familiar Names

Bending Spoons’ acquisition spree accelerated notably in recent years, adding a host of recognizable brands to its burgeoning portfolio.

• Earlier Acquisitions (2014-2021): The company quietly built its foundation with several acquisitions, including Remini, an AI-powered photo enhancer, showcasing an early interest in mobile-first tools.
• 2022: This year marked a significant increase in visibility. Bending Spoons acquired Filmic, known for its popular video and photo editing applications. The acquisition was notably followed by the complete layoff of Filmic’s staff in December 2023, a move that sparked considerable discussion within the developer community about the human cost of such consolidations.
• Early 2023: Following an announcement in 2022, the firm finalized its acquisition of Evernote, the once-ubiquitous note-taking application that had previously achieved a billion-dollar valuation. The post-acquisition phase saw significant layoffs and controversial adjustments to Evernote’s free offering, imposing stricter limits that alienated a segment of its long-standing user base.
• First Half of 2024: This period was particularly active. Bending Spoons acquired Meetup, a community-building platform, along with Mosaic Group, an app maker, and Hopin’s StreamYard, a live streaming studio. These deals underscored the firm’s ambition to broaden its reach across various digital communication and community engagement sectors.
• July 2024: The acquisitions continued with the publishing platform Issuu and the widely used file transfer service WeTransfer. The integration of WeTransfer into Bending Spoons’ portfolio also led to staff reductions and the implementation of new restrictions on its free service, limiting monthly transfers. This decision drew public criticism from WeTransfer co-founder Nalden, who voiced his dissatisfaction and announced plans to launch a competing service, highlighting the tension between corporate efficiency and product ethos.
• November 2024: Bending Spoons expanded its video platform holdings by announcing a $233 million all-cash take-private deal for Brightcove, further solidifying its presence in the enterprise video solutions market.
• 2025: The acquisition pace remained high with the addition of Komoot, a route planner for outdoor activities, and Harvest, a management software maker.
• Late 2025: The year concluded with two blockbuster announcements. Bending Spoons declared its intention to acquire Vimeo for $1.38 billion, and subsequently announced plans to purchase AOL from Yahoo for an undisclosed sum. Both deals were expected to close by year-end 2025, pending regulatory and shareholder approvals. The Vimeo acquisition indeed closed in the latter half of 2025, directly preceding the widespread layoffs reported across the company.
• December 2025: The firm announced its intent to acquire Eventbrite, the popular event management and ticketing platform, for approximately $500 million. This valuation marked a significant discount from Eventbrite’s 2018 IPO valuation of $1.76 billion. However, this deal faced immediate legal challenges, with Eventbrite stockholders filing a lawsuit in Delaware to block the take-private transaction over voting rights concerns, indicative of potential hurdles in the firm’s aggressive expansion strategy.

Market Reactions and Social Implications

Bending Spoons’ consistent strategy of acquiring established digital brands and subsequently implementing significant operational changes, including workforce reductions and alterations to core product offerings, has elicited varied reactions. While investors have largely lauded the firm’s ability to identify value and streamline operations, users and former employees often express concern and criticism. The restructuring of "beloved brands" like Evernote and WeTransfer, particularly through limiting free tiers or removing features, has sometimes led to user backlash and a sense of alienation, as these platforms often hold sentimental value or are deeply integrated into daily workflows.

The human impact of widespread layoffs, as seen at Filmic, Evernote, WeTransfer, and now Vimeo, is a recurring theme. While Bending Spoons emphasizes efficiency and long-term sustainability, the immediate consequence for employees can be devastating. This trend reflects a broader pattern in the tech industry, where companies, especially in a tightening economic climate, prioritize profitability and leaner operations over maintaining larger workforces. The criticism from WeTransfer’s co-founder, for instance, underscores a tension between the original vision and user-centricity of a product and the subsequent drive for financial optimization by a new owner.

From a market perspective, Bending Spoons’ activities contribute to a significant consolidation trend in the digital services sector. By rolling up various niche and broad-appeal platforms, the firm builds a powerful ecosystem that could eventually command substantial market share across multiple digital verticals. This strategy, while potentially creating efficiencies, also raises questions about competition and diversity within the tech landscape.

Financial Might and Future Ambitions

Bending Spoons’ aggressive acquisition strategy is underpinned by substantial financial backing. In October 2025, the company achieved the rare status of a "decacorn," reaching a valuation exceeding $10 billion, positioning it as one of Europe’s most valuable tech companies. This milestone followed a successful funding round that secured $270 million from prominent investors, including T. Rowe Price, alongside existing backers such as Baillie Gifford, Cox Enterprises, Durable Capital Partners, and Fidelity. Additionally, a secondary share sale allowed existing shareholders to offload $440 million worth of stock. This surge in valuation from $2.8 billion in 2024 also propelled Bending Spoons’ four co-founders into the billionaire ranks, based on Forbes’ estimates of their stakes.

The firm’s cap table boasts an eclectic mix of high-profile investors, extending beyond traditional venture capital firms to include celebrities and tech luminaries. Tennis legend Andre Agassi, actor Bradley Cooper, former Google CEO Eric Schmidt, Instagram co-founder Mike Krieger, and French telecom mogul Xavier Niel are among its notable backers. The company also counts musical artists like The Weeknd, The Chainsmokers, and Maluma among its investors, highlighting its broad appeal and strategic networking.

With this significant capital infusion, Bending Spoons has indicated its intention to further fuel future acquisitions and invest heavily in its proprietary technology and artificial intelligence capabilities. This is in addition to the $2.8 billion in debt financing disclosed when announcing the AOL acquisition, which is earmarked for funding that deal and subsequent purchases, signaling a continued, aggressive expansion trajectory.

The Road Ahead: Expansion and Scrutiny

Bending Spoons has clearly articulated its intent to persistently pursue new acquisitions, aiming to broaden its already extensive portfolio of consumer and enterprise digital products. The increasing scale of its financial resources now enables the firm to target even more prominent brands, as evidenced by its recent pursuit of Eventbrite.

The acquisitions of AOL and Vimeo, in particular, represent a significant step up in terms of brand recognition and user reach compared to earlier targets. While the specific terms of the AOL deal remain undisclosed, Bending Spoons highlighted AOL’s continued relevance, citing 8 million daily active users and 30 million monthly active users, positioning it as one of the top ten most-used email providers globally. Rumors have also circulated about Bending Spoons eyeing other companies, such as the app maker Elysium and Typeform, a Barcelona-based SaaS company renowned for its form creation tools, indicating a diverse interest in various digital niches.

To support its ambitious growth, Bending Spoons is actively recruiting across various roles. Despite candidly describing its work environment as "demanding," the company reported receiving over 600,000 job applications in 2025. New hires typically commence work at the Milan headquarters, with options to transition to offices in London, Madrid, or Warsaw, or to work remotely, reflecting a modern, distributed workforce strategy.

Looking further ahead, Bending Spoons is reportedly in discussions with various financial institutions to potentially launch an initial public offering (IPO) on the New York Stock Exchange. CEO Luca Ferrari previously indicated to Reuters that a U.S. listing would be the preferred route, anticipating higher valuations for tech companies in American markets. This potential IPO signifies a major step for the firm, transforming it from a quietly operating acquisition engine into a publicly traded entity, subject to greater scrutiny and market expectations. The ongoing legal challenge concerning the Eventbrite acquisition, however, underscores the potential for increased regulatory and shareholder oversight as Bending Spoons continues its rapid ascent and consolidation of the digital landscape.