Bending Spoons acquires file transfer service WeTransfer

Bending Spoons, a prominent Italian company known for its innovative apps like Evernote and Meetup, has officially acquired the popular file transfer service WeTransfer. The financial details of the transaction have not been disclosed, leaving industry observers curious about the valuation. WeTransfer's CEO, Alexandar Vassilev, highlighted the platform's impressive growth over the past decade, which includes accumulating 600,000 subscribers and reaching 80 million monthly active users. In his statement, Vassilev emphasized the importance of nurturing creative communities, stating, "Nurturing creative communities and amplifying their voices has been key to our success. Some of Bending Spoons’ most successful products are tools that serve creativity; therefore we are confident that this milestone will complement both businesses, supercharge our growth, and help us create even more value for creative industries at large." The Dutch-based WeTransfer previously raised $25 million from Highland Capital Partners Europe in 2015, which aided its expansion efforts. In 2019, the company secured €35 million in a Series B funding round, also backed by Highland Europe. Although WeTransfer once considered an initial public offering, plans were scrapped due to market instability. Bending Spoons' CEO, Luca Ferrari, expressed enthusiasm about the acquisition, stating, "WeTransfer is a highly respected name in the technology and creative spaces. We’re enthusiastic about becoming its new owner, and we feel a strong sense of responsibility to help the brand and the business thrive for many years to come." In its commitment to social responsibility, Bending Spoons plans to reserve 30% of WeTransfer’s advertising space for charitable campaigns and editorial content. Earlier this year, WeTransfer introduced a feature that allows creators to sell digital files directly on its platform, supporting over 100 currencies. Bending Spoons is known for reshaping the business models of its acquisitions. For instance, it recently limited Evernote’s free plan to just 50 notes. Currently, WeTransfer offers a Pro plan at $10 per month with 1TB of storage and the capability to send files up to 200GB, in addition to a premium plan priced at $19 per month without limits. Changes in pricing or potential layoffs under Bending Spoons’ ownership have not yet been disclosed. The Italian company recently raised $155 million in equity financing from Durable Capital Partners and other existing investors, signaling its ongoing growth ambitions.