Italy-based Bending Spoons, known for its portfolio of apps including Evernote and Meetup, announced on Wednesday that it had acquired file transfer service WeTransfer. The terms and valuation of the deal were not disclosed by either company.
WeTransfer CEO Alexandar Vassilev highlighted the platform’s significant growth over the past decade, noting that it now boasts 600,000 subscribers and 80 million monthly active users. “Nurturing creative communities and amplifying their voices has been key to our success,” Vassilev said. “Bending Spoons’ successful tools that support creativity align perfectly with our mission. This acquisition will supercharge our growth and create even more value for creative industries.”
Founded in the Netherlands, WeTransfer last raised $25 million from Highland Capital Partners Europe in 2015 and €35 million in a 2019 Series B round from HPE Growth, supported by Highland Europe. The company had also considered a public offering but withdrew due to market volatility.
Bending Spoons CEO Luca Ferrari expressed enthusiasm about the acquisition: “WeTransfer is a highly respected name in the tech and creative spaces. We are eager to assume ownership and are committed to helping the brand and business thrive for years to come.”
The company stated that it will continue to allocate 30% of WeTransfer’s advertising space to support charitable campaigns and editorial content. Earlier this year, WeTransfer introduced a feature allowing creators to sell digital files directly on its platform, supporting over 100 currencies.
Bending Spoons is known for restructuring the business models of its acquisitions. For example, Evernote restricted its free plan to just 50 notes in November 2023. WeTransfer’s current Pro plan costs $10 a month for 1TB of storage and file transfers up to 200GB, while its premium plan at $19 per month offers unlimited features. Changes to pricing and service plans under Bending Spoons’ leadership remain uncertain.
Additionally, Bending Spoons has a history of significant staff reductions post-acquisition. In February 2023, the company laid off 129 employees from Evernote. Similarly, in December 2023, Bending Spoons eliminated all positions at Filmic, a photo and video editing app it acquired in 2022.
Earlier this year, Bending Spoons secured $155 million in equity financing from Durable Capital Partners, along with existing investors such as Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP, controlled by Tamburi Investment Partners.
