Bending Spoons to buy collaboration tools maker Miro for $1.36B, 90% less than its 2022 valuation
Bending Spoons is acquiring the collaboration software company Miro for $1.36 billion, a significant decrease from its 2021 valuation of $17.5 billion. The deal reflects a broader market correction in SaaS valuations following the pandemic-era boom.
Why it matters
This acquisition highlights the dramatic shift in investor sentiment and valuation multiples for high-growth software companies.
Bending Spoons is continuing its trend of buying once-sought-after software companies for pennies on the dollar. This time, the Italian company is buying Miro for $1.36 billion in cash (equity value of $1.79 billion), a mighty dip in valuation for the once-hot workplace collaboration startup that was awarded a price tag of $17.5 billion in late 2021 .
Founded in 2011 as a whiteboarding tool called RealtimeBoard, Miro found great fortune during the COVID-19 pandemic, when companies moved to remote work en masse, and found their employees wanting to replicate the experience of collaborating on a physical whiteboard.
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