Bending Spoons to acquire Miro for $1.36B, marking a 90% drop from its 2022 valuation

Italian tech firm Bending Spoons has announced an agreement to acquire the workplace collaboration platform Miro for $1.36 billion. This deal represents a significant valuation adjustment for Miro, which was previously valued at $17.5 billion during its peak in late 2021. The acquisition highlights the ongoing cooling of the private market for high-growth software startups, as investors and buyers recalibrate expectations following the post-pandemic boom. Miro, known for its digital whiteboard and collaborative tools, became a staple for remote teams globally. However, the massive discrepancy between its previous valuation and the current sale price underscores the challenges faced by late-stage startups in the current economic climate. Bending Spoons, which has been aggressively expanding its portfolio through acquisitions, aims to integrate Miro’s technology into its broader ecosystem of digital productivity tools, though the market remains focused on the steep decline in the startup's financial assessment.