1. Bending Spoons (BS) is an itallian conglomerate, who is specialized in acquiring marginally-profitable software companies.
2. After an acquisition, BS attempts to cut the cost structure agressively. This normally involves massive axing of employees.
3. BS also raise the pricing agressively, which would shock long-term users.
4. Now the acquired compnay is cashflow-positive.
5. Using that cash flow, BS proceeds to acquire another company.
Based on this playbook, Bending Spoons has acquired Evernote, Remini, Meetup, WeTransfer, Brightcove ... and now Komoot.
So in short, Bending Spoons is a roll-up vehicle for software business, pretty similar to what Brad Jacobs (who founded United Rentals and XPO) has been doing for decades.
1. Bending Spoons (BS) is an itallian conglomerate, who is specialized in acquiring marginally-profitable software companies.
2. After an acquisition, BS attempts to cut the cost structure agressively. This normally involves massive axing of employees.
3. BS also raise the pricing agressively, which would shock long-term users.
4. Now the acquired compnay is cashflow-positive.
5. Using that cash flow, BS proceeds to acquire another company.
Based on this playbook, Bending Spoons has acquired Evernote, Remini, Meetup, WeTransfer, Brightcove ... and now Komoot.
So in short, Bending Spoons is a roll-up vehicle for software business, pretty similar to what Brad Jacobs (who founded United Rentals and XPO) has been doing for decades.