Italian App Developer Bending Spoons Raises $155 Million, Valuation Reaches $2.55 Billion

Bending Spoons, an Italian app developer, has announced a successful capital increase of $155 million, elevating the company's valuation to $2.55 billion, as disclosed on Thursday. Established in 2013, Bending Spoons has garnered significant attention from both institutional and private investors, with notable backers including Italian bank Intesa Sanpaolo and Hollywood actor Ryan Reynolds.

In a strategic move, Bending Spoons recently finalized the acquisition of the digital assets of Mosaic Group, a mobile software subsidiary of IAC, and Meetup, a social network boasting 60 million members worldwide. Meetup facilitates the organization of both in-person and virtual events and gatherings, aligning with Bending Spoons' expansion objectives.

The influx of capital from the latest financing round will be instrumental in supporting Bending Spoons' ambitious growth plans, particularly with regard to future acquisitions, the company stated. Notably, Durable Capital Partners LP has joined existing investors such as Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and Tamburi Investment Partner unit StarTIP in contributing to this funding round.

Bending Spoons' ability to attract substantial investment underscores its position as a prominent player in the app development landscape. The company's strategic acquisitions and strong investor support signify confidence in its growth trajectory and potential for continued success in the competitive digital market.

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