Bending Spoons, a Milan-based technology company that operates leading digital products like Evernote Meetup, Remini, Splice, and StreamYard, is powered by cutting-edge AI and engineering serving 100 million monthly active users. Today, the company announced the acquisition of Issuu, the renowned digital publishing platform.
Joe Hyrkin, CEO of Issuu, commented on the acquisition, stating, “Issuu has become the leading digital publishing platform, with more than one million creators and marketers using the platform annually and 100 million unique users per month consuming Issuu-processed content. Issuu has become the de facto standard for any company or publisher that wants to digitally reach and expand its audience. Given Issuu’s status as a profitable and growing company, Bending Spoons is uniquely positioned to dramatically extend Issuu’s reach and the impact we can offer to businesses globally.”
Luca Ferrari, CEO of Bending Spoons, expressed his enthusiasm for the future collaboration: “We’re impressed by what the Issuu team has achieved over the years, and we’re enthusiastic about its future prospects. By leveraging Bending Spoons’ expertise and platform technologies, we believe we can help Issuu progress further.”
The acquisition was supported by various legal and financial advisors. Issuu, funded by Heartcore Ventures and KDDI Open Innovation Fund, was assisted on legal matters by Goodwin Procter and had Lightning Partners as its exclusive financial advisor. Bending Spoons received legal assistance from Willkie Farr & Gallagher LLP for US and Germany, Kromann Reumert in Denmark, and Pérez-Llorca in Portugal. EY Advisory SpA assisted with financial and tax due diligence.
Bending Spoons has been on a steady rise in recent years. In 2022, they announced the acquisition of the popular note-taking and task-management app Evernote. That same year, they surpassed $100 million in annual revenue and raised $340 million in one of Italy’s largest funding rounds. This year, Bending Spoons raised $155 million in its latest equity financing round, with Durable Capital Partners LP joining existing investors Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP. This funding round has pushed Bending Spoons to a post-money valuation of $2.55 billion.
