Bending Spoons is continuing its trend of buying once-sought-after software companies for pennies on the dollar. This time, the Italian company is buying Miro for $1.36 billion in cash (equity value of $1.79 billion), a mighty dip in valuation for the once-hot workplace collaboration startup that was awarded a price tag of $17.5 billion in late 2021.
Founded in 2011 as a whiteboarding tool called RealtimeBoard, Miro found great fortune during the COVID-19 pandemic, when companies moved to remote work en masse, and found their employees wanting to replicate the experience of collaborating on a physical whiteboard.
