DI25013 Bending Spoons - owner of Legacy Internet Software V01 031225

 Bending Spoons acquires Eventbrite in $500m deal

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Max Head

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Technology investor Bending Spoons has added Eventbrite to its portfolio in a $500 million cash deal, sending shares in the US-listed ticket seller up by more than 80 per cent.

The Milan-based investor, which is led by entrepreneur Luca Ferrari and controls $12 billion in legacy internet assets including Vimeo, the video platform, and dotcom era web browser AOL, said it planned to “accelerate innovation and strengthen Eventbrite’s tools and resources to bring even more people together through shared live experiences for many years to come”.

Eventbrite founded in 2006 in San Francisco and saw its valuation soar before it was floated in New Yorkwith a market valuation of $1.8 billion in 2018.

Its shares initially performed strongly, reaching a peak above $2.8 billion, but have not recovered since collapsing in the pandemic, when lockdowns put live events on ice. In 2024, Eventbrite distributed more than 83 million tickets to over 4.7 million events.

Bending Spoons, which also owns Brightcove, WeTransfer and Komoot, prides itself on acquiring and transforming “neglected” digital companies and says it has never sold an acquired business. It is expanding its presence in the UK, growing its London office to a 150 person capacity from a prior headcount of 20. Ferrari told The Times this week that the talent and quality universities in London encourage him to “invest aggressively” in the UK.

The acquisition received unanimous approval by Eventbrite’s board.

Here’s a comprehensive overview of Bending Spoons — what they do, how they got here, and why they matter now.

🧩 What is Bending Spoons

• Bending Spoons is a privately held Italian technology company (S.p.A.), headquartered in Milan, Italy. 

• It was founded in 2013 (originally in Copenhagen) by a small group of engineers including Luca Ferrari, Francesco Patarnello, Matteo Danieli and others. 

• Initially they focused on building their own mobile apps — but over time the business model evolved: today Bending Spoons primarily acquires existing digital products and services, and then works to transform, optimize, and grow them under its umbrella. 

📱 What They Do: Apps & Acquisitions

• Bending Spoons owns or operates a variety of well-known apps and digital tools: among them are Evernote (note-taking), komoot (outdoor navigation), Meetup (social events), Remini (AI-based photo enhancement), Splice (video editing), and file-sharing service WeTransfer. 

• Their in-house technology stack includes sophisticated tooling for data processing and AI: for example, internal platforms like “Minerva” (predictive analytics), “Lumen” (for scalable data pipelines), and “Pantheon” (for serving AI models to their products). 

• Unlike many hype-driven startups, their philosophy has often been described as: build robust engineering systems + use data & AI + focus on long-term, high-margin or sustainable growth rather than speculative, high-burn “blitzscaling.” 

📈 Growth via Acquisition: Expansion & Strategy

• Rather than only building new apps, Bending Spoons now acts partly as a tech investment and operations house: they acquire underutilized or legacy digital platforms, then try to revive or revamp them under their management. 

• For example: they acquired Evernote in late 2022 (deal finalised January 2023). 

• Over the years, the company has grown considerably — from a small startup to a multinational outfit. As of recent data, the company headcount is roughly 400–500 “Spooners,” though depending on acquisitions the scale may vary. 

• According to their own public statements and external coverage, Bending Spoons now sees itself as a “digital-business operator,” focusing on transforming and optimizing acquired businesses rather than only focusing on greenfield development. 

🎯 Company Culture & Internal Philosophy

• The company markets itself as “mission-driven,” aiming to maximize positive impact for its users, employees (“Spooners”), and society at large. 

• Working there tends to be described as high-performance but meritocratic: according to employee reviews (e.g. on Glassdoor), many rate their experience very positively: overall rating is 4.8/5 (industry-average context) for Bending Spoons — likely reflecting strong culture, benefits, and opportunities. 

• The company emphasises flexibility: remote work, flexible schedules, internal mentoring, good benefits (including health, disability, mental health support), and rapid career growth for talented people. 

⚠️ Controversies / Criticisms and Challenges

• Because part of their model involves acquiring established products and then streamlining them (cost cuts, restructuring), Bending Spoons has drawn criticism: in some acquisitions there have been significant layoffs or restructuring. 

• Some critics argue that this “private-equity-style” approach may prioritise profitability over user experience or long-term innovation on some platforms. 

• Historically there was at least one controversial project: in 2020, the company developed Immuni, Italy’s COVID-19 contact-tracing app. While the app was released nationwide, its adoption proved limited and the app was decommissioned at end of 2022 — reportedly tracking fewer than 1% of total confirmed cases. 

🔎 Why It Matters — and What’s Next

• Bending Spoons represents a different model compared to typical Silicon-Valley–style startups: their focus on acquisitions + engineering-driven renovation + long-term view makes them more akin to a “software holding / operating company.” For European tech, that’s relatively rare — and arguably important for building sustainable, large-scale digital businesses in the region.

Here’s a bullet-point breakdown of the main apps and products owned or operated by Bending Spoons:

Bending Spoons Apps / Products

• Evernote

• Note-taking and productivity app.

• Stores notes, to-do lists, web clippings, and personal organization tools.

• Acquired in late 2022 (deal closed early 2023).

• Remini

• AI-powered photo enhancement and editing app.

• Improves old or low-quality photos using AI.

• Splice

• Video-editing app for creators and social media content.

• Focused on easy-to-use editing tools and templates.

• WeTransfer

• Cloud-based file transfer and sharing service.

• Popular for sending large files, especially among creatives.

• Acquired in 2024.

• komoot

• Outdoor navigation and route-planning app for hiking, cycling, and other activities.

• Acquired in 2025.

• Meetup

• Social platform for organizing events and connecting communities.

• Helps users find local or virtual events based on interests.

• Acquired in early 2024.

• Issuu

• Digital publishing platform for magazines, brochures, and other publications.

• Used by creators and marketers for online content distribution.

• Acquired in 2024.

• StreamYard (via Hopin acquisition)

• Live-streaming and video production platform.

• Allows users to broadcast live with professional studio features.

• Acquired in 2024.

• Vimeo (pending acquisition 2025)

• Video hosting and streaming platform for creators and businesses.

• Provides hosting, live streaming, and video monetization tools.

• Brightcove

• Video streaming technology and platform services.

• Provides enterprise-level streaming solutions for businesses.

If you want, I can also make a timeline of all their acquisitions with dates and key details in bullet points — this would show how their portfolio grew over time. Do you want me to do that?

• Their success suggests there may be value in “second-life” for apps and digital services: many once-prominent or underperforming apps/platforms could be re-energised with better engineering, AI tools, and business discipline.

• Given their track record, Bending Spoons is a company to watch: future acquisitions, how they manage their portfolio, and whether their “revival through acquisition” model scales long-term — or whether the tensions between profitability, staff impact, and user trust grow.

If you like, I can also pull up a timeline of major milestones & acquisitions for Bending Spoons (from founding to today), to help you see exactly how the company evolved.