Bending Spoons Acquires Issuu in Strategic Expansion Move
Bending Spoons, a prominent Milan-based technology company, announced today the acquisition of Issuu, a leading digital publishing platform. The acquisition marks a significant milestone for both companies, leveraging Bending Spoons’ cutting-edge AI and engineering capabilities to enhance Issuu’s global reach.
Joe Hyrkin, CEO of Issuu, highlighted the platform’s success and potential under new ownership: “Issuu has become the leading digital publishing platform, with over one million creators and marketers using the platform annually and 100 million unique users per month consuming Issuu-processed content. Issuu has become the de facto standard for any company or publisher that wants to digitally reach and expand its audience. Given Issuu’s status as a profitable and growing company, Bending Spoons is uniquely positioned to dramatically extend Issuu’s reach and the impact we can offer to businesses globally.”
Luca Ferrari, CEO of Bending Spoons, expressed his excitement about the acquisition and future collaboration: “We’re impressed by what the Issuu team has achieved over the years, and we’re enthusiastic about its future prospects. By leveraging Bending Spoons’ expertise and platform technologies, we believe we can help Issuu progress further.”
The acquisition was facilitated by a host of legal and financial advisors. Issuu, backed by Heartcore Ventures and KDDI Open Innovation Fund, received legal counsel from Goodwin Procter and financial advice from Lightning Partners. Bending Spoons was assisted legally by Willkie Farr & Gallagher LLP for US and Germany, Kromann Reumert in Denmark, and Pérez-Llorca in Portugal. EY Advisory SpA conducted financial and tax due diligence.
Bending Spoons has seen significant growth in recent years. In 2022, the company acquired Evernote, a popular note-taking and task-management app. That year, Bending Spoons also surpassed $100 million in annual revenue and raised $340 million in one of Italy’s largest funding rounds. In 2024, the company raised an additional $155 million in equity financing, with Durable Capital Partners LP joining existing investors Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP. This latest funding round has elevated Bending Spoons’ post-money valuation to $2.55 billion.
With this acquisition, Bending Spoons aims to bolster its portfolio of digital products, which already includes Evernote, Meetup, Remini, Splice, and StreamYard. The company’s robust platform, serving 100 million monthly active users, is set to integrate Issuu’s capabilities, enhancing the digital publishing landscape and offering new opportunities for creators and businesses worldwide.
Financial Desk
