Italian app developer Bending Spoons will lay off 75% of the staff at file-sharing platform WeTransfer, CEO Luca Ferrari announced on Sunday.
In a statement to Reuters, Ferrari said, “I won’t be more specific at this stage because the layoff hasn’t been fully defined yet.”
Bending Spoons acquired WeTransfer in July, marking its fifth acquisition this year. Earlier in February, the Italy-based company raised $155 million through a capital increase, boosting its valuation to $2.55 billion.
Founded in 2009 in the Netherlands, WeTransfer had initially planned to go public in Amsterdam in 2022, aiming for a valuation of up to 716 million euros. However, the IPO was scrapped due to market volatility at the time.
