- Bending Spoons SpA, an Italian mobile app developer, has acquired Dutch file-sharing service WeTransfer, continuing its global expansion after recent acquisitions, including Evernote.
- Bending Spoons plans a $3 million investment in WeTransfer’s artist support foundation.
OUR TAKE
Bending Spoons’ acquisition of WeTransfer signals a strategic move to dominate digital collaboration. With past acquisitions like Evernote, they’re consolidating essential tools for creatives and professionals. The tech world now watches to see if Bending Spoons can seamlessly innovate and integrate these platforms, innovating online collaboration.
–Jasmine Zhang, BTW reporter
What happened
Italian mobile app developer Bending Spoons SpA has acquired Dutch file-sharing service WeTransfer, which had withdrawn from a public listing in 2022. Financial terms were not disclosed. Bending Spoons, valued at $2.6 billion after a February financing round, has acquired multiple software firms, including Evernote in 2022. It also pursued but later dropped a bid for Vimeo.
Bending Spoons also operates the AI-driven photo-and-video editing app Remini, contributing to its $600 million in revenues, excluding WeTransfer sales.
Founded in 2009, WeTransfer had aimed for a valuation of up to €716 million ($776 million) before cancelling its Initial Public Offering. The company boasts 600,000 subscribers and 80 million monthly active users, with 2022 sales growing 25% to €132 million ($142 million).
Bending Spoons CEO Luca Ferrari announced plans to invest $3 million in WeTransfer’s foundation for artists. Ferrari did not specify the number of WeTransfer employees to be retained but highlighted substantial opportunities for business improvement.
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Why it’s important
Bending Spoons acquired WeTransfer. This Milan-based app developer is not just buying a file-sharing service. It’s making a strategic move to dominate the digital collaboration space. With previous acquisitions like Evernote, Bending Spoons is positioning itself as a major player, consolidating tools that creatives and professionals rely on.
WeTransfer’s 80 million monthly active users and strong foothold among artists and filmmakers provide a substantial user base for Bending Spoons to leverage. Moreover, the promise of investing $3 million in WeTransfer’s foundation signals a commitment to the creative community, potentially fostering goodwill and brand loyalty.
However, the real question is whether Bending Spoons can innovate and integrate these platforms seamlessly. As competition intensifies, the tech world will be watching to see if Bending Spoons can deliver on its promises and truly revolutionise the way we collaborate online.
