Bending Spoons Are Buying Every Old Tech Company
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Author: Better Stack · Watch on YouTube
Video authored by the channel shown, not by IANIA; all rights belong to the creator. Transcript and summary generated automatically; the original-language content is preserved.
Original language: English
Original video: Bending Spoons Are Buying Every Old Tech Company · Channel: Better Stack · 01:02 · Watch on YouTube
Topics: Enterprise AI applications
Summary
Section titled “Summary”Bending Spoons has been buying established tech brands such as WeTransfer, Vimeo, and Evernote, which the video describes as having stagnated. Its approach is to bring engineering in-house, reduce staff, and modernize products with technology and AI rather than flip the companies. The acquisitions give it access to hundreds of millions of monthly active users and millions of paying customers. The video cites Evernote retaining 99% of revenue from existing customers three years after its acquisition and says Bending Spoons is now valued at more than $35 billion.
Key points
Section titled “Key points”- Bending Spoons has acquired brands including WeTransfer, Vimeo, Evernote, Meetup, AOL, and Embriod.
- The company’s strategy is to acquire established businesses, cut much of their staff, and improve their products with modern technology and AI.
- Bending Spoons has agreed to buy Miro for $1.36 billion; Miro was once valued at $17.5 billion.
- Berkshire Hathaway provided Bending Spoons with another $330 million to fund further acquisitions.
- Across its acquisitions, Bending Spoons controls more than 400 million monthly active users and over 7 million paying customers.
- The video argues that brands’ loyal customer bases can persist even as stagnation weakens the businesses behind them.
- Three years after acquiring Evernote, Bending Spoons retained 99% of its revenue from existing customers.
- Founded in 2013 with acquisitions of small iPhone apps, Bending Spoons is now valued at more than $35 billion.
Chapters
Section titled “Chapters”| Start | Chapter | Summary |
|---|---|---|
| 00:00 | Bending Spoons’ acquisition strategy | The video introduces Bending Spoons and its approach to acquiring and modernizing stagnating tech companies. |
| 00:31 | Miro deal and customer base | It discusses the proposed Miro acquisition, Berkshire Hathaway’s funding, and the scale of Bending Spoons’ customers. |
| 01:02 | Evernote results and company valuation | The video cites Evernote’s retained revenue and Bending Spoons’ growth from iPhone app acquisitions to a valuation above $35 billion. |
Quotes
Section titled “Quotes”one European company has quietly been acquiring all of them. — 00:00
it’s not to flip them — 00:00
they now control over 400 plus million monthly active users — 00:31
it actually kept 99% of its revenue from existing customers. — 01:02
Concepts and entities
Section titled “Concepts and entities”Bending Spoons, WeTransfer, Vimeo, Evernote, Meetup, AOL, Embriod, Miro, Berkshire Hathaway
Full transcript (original language)
Section titled “Full transcript (original language)”00:00 You’ve heard of companies like WeTransfer, Vimeo, and Evernote. These were massive tech companies that have stagnated for years, and one European company has quietly been acquiring all of them. That company is called Bending Spoons, and you may be wondering why they’d spend billions buying dying companies. Well, it’s not to flip them, it’s to acquire them, fire most of the staff, and improve the products with modern tech and AI, and it’s actually working. Including the three mentioned, they’ve also acquired Meetup, AOL, Embriod, and many more, and they’ve
00:31 agreed to buy Miro for 1.36 billion. Miro was once valued at 17.5 billion, and this week Berkshire Hathaway gave Bending Spoons another 330 million dollars to buy even more. Through all of their acquisitions, they now control over 400 plus million monthly active users, and over 7 million paying customers. The idea here is that these brands have many loyal customers, but over time stagnation kills these companies from the inside out. So, Bending Spoons brings all of the engineering in-house, clears out the
01:02 junk, and keeps most of those customers. Over 3 years after acquiring Evernote, it actually kept 99% of its revenue from existing customers. So, after starting back in 2013, acquiring small iPhone apps, they’re now valued over 35 billion dollars. If you enjoy tech news like this, then subscribe to see more.