Bending Spoons to buy collaboration tools maker Miro for $1.36B, 90% less than its 2022 valuation
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.
Miro quickly capitalized on that momentum by building a platform that could integrate with more than 250 apps, and struck partnerships with Atlassian, Cisco, Microsoft, and Zoom. The company also started letting its users build integrations with common tools and customize the base product to meet their needs. Today, it calls itself...
Copyright of this story solely belongs to techcrunch.com. To see the full text click HERE
