Bending Spoons to buy collaboration tools maker Miro for $1.36B, 90% less than its 2022 valuation

Bending Spoons will buy Miro for $1.36 billion in cash, valuing the company at $1.79 billion, a 92% decline from its $17.5 billion 2021 valuation. Miro generates over $600 million in annual recurring revenue, 90% from enterprise clients, and holds $435 million in net cash while remaining profitable. The acquisition follows workforce cuts of 119 employees in February 2023 and 275 in October 2024 amid falling SaaS multiples.