Bending Spoons has agreed to buy Miro, the AI-driven online whiteboard company, at an enterprise valuation of $1.355 billion. The acquisition follows closely on the heels of Bending Spoons' recent Airtable purchase, marking a rapid expansion in its software holdings.
- Miro serves 250,000 organizations with $600M ARR, 90% from enterprises
- Acquisition valued at $1.355B enterprise, $1.79B equity including cash
- Bending Spoons to invest heavily post-close, focusing on reliability and AI
What happened
Miro will continue to operate independently until the acquisition is finalized. As part of the deal, some existing Miro shareholders are reinvesting nearly $295 million of their proceeds into Bending Spoons' newly issued shares, although their identities remain undisclosed. This acquisition follows Bending Spoons' recent completion of its $1.285 billion purchase of Airtable, reflecting an aggressive expansion strategy in the software sector.
Why it matters
Miro brings a significant enterprise footprint to Bending Spoons, with about $600 million in annual recurring revenue and a customer base spanning over 250,000 organizations worldwide. Approximately 90% of that revenue comes from business and enterprise clients, with more than 750 customers each generating over $100,000 annually. The platform supports more than 100 million users, including nearly 4 million paying customers, positioning it as a key player in the collaborative workspace market.
The acquisition extends Bending Spoons' capabilities in AI-enabled work collaboration tools, as Miro integrates AI assistants, workflow management, and prototyping features on a shared online canvas. This positions it to compete with leading digital collaboration platforms like Canva, Microsoft, and Figma. By integrating Miro, Bending Spoons aims to further improve its portfolio's performance, reliability, and essential collaborative functions that its corporate users depend on.
What to watch next
As the acquisition completes, Bending Spoons plans to invest heavily in enhancing Miro's core functionalities, emphasizing performance, reliability, and AI-driven innovation. The company follows a strategy of acquiring digital businesses, transforming them operationally and technologically, and leveraging AI to optimize monetization and user experience.