App Developer Bending Spoons Receives $155 Million Investment

Italian app developer Bending Spoons has raised $155 million in its latest round of equity financing as it prepares to make more acquisitions. Durable Capital Partners led the company's $155 million investment round. Italy-based Bending Spoons' investment round included Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital and StarTIP. The funding round increased Bending Spoons' post-money valuation to $2.55 billion. The Italian company has already begun acquisition plans this year, acquiring event platform Meetup last month. In 2022, Bending Spoons announced the acquisition of popular note-taking and task management app Evernote. Following this acquisition, Evernote ceased operations in the US and Chile and moved its business to Europe as part of the transition.

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"We Create Our Own Advanced Technologies and Products at Bending Spoons"

It develops a suite of mobile apps, including the video editor Splice and the AI-powered photo editor Remini, with a combined global user base of around 100 million monthly users. The company claims to have served more than 500 million customers to date through its product line.

The company has been on a steady rise in recent years. In 2022, Bending Spoons announced annual revenue in excess of $100 million. That same year, with the support of major Italian banks and Maximum Effort, the film production company founded by actor Ryan Reynolds, it raised $340 million in one of Italy's largest financing rounds. Bending Spoons is also involved in the artificial intelligence sector. It claims to have 2,000 GPUs continuously running photo enhancement models. The Italian company claims that its artificial intelligence improves 40 million photos every day.