Italian mobile app developer Bending Spoons SpA has refused to acquire the video hosting platform Vimeo Inc., without reaching an agreement on the value of the transaction. This is reported in the Bending Spoons press release.
Bending Spoons has offered to buy back Vimeo shares for $816 million and has been negotiating with banks to finance a potential deal.
In February 2024, Bending Spoons raised $155 million in a funding round involving Durable Capital Partners, Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital and StarTIP and Cherry Bay Capital Group. As a result of the round, the company's market value reached $2.55 billion.
Bending Spoons aims to expand its asset portfolio. In particular, the company previously bought out the Evernote Corp. application, the Mosaic Group platform and the Meetup social network with 60 million participants.
Bending Spoons SpA is an Italian developer of mobile applications Splice, 30 Day Fitness, Live Quiz and Remini, founded in 2013 and headquartered in Milan (Italy). The company's sponsors are Eric Schmidt (Google), billionaire Xavier Neal, tennis player Agassi, actor Bradley Cooper and Colombian singer Maluma. In 2020, the Italian government selected Bending Spoons to develop the official Italian Immuni contact tracking application COVID-19.
Vimeo is an American video hosting company headquartered in New York (USA). The video hosting platform was spun off from IAC/InterActiveCorp at the end of May 2021. Currently, Vimeo's market capitalization is $816 million.
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