Bending Spoons to acquire Miro for $1.79 billion, 89% below its last valuation

Bending Spoons is acquiring Miro for $1.79 billion, described as 89% below Miro’s last funding-round valuation and at less than three times revenue. Miro had previously been valued at $17.5 billion. The company is described as having approximately $600 million in annual recurring revenue, more than 750 customers paying over $100,000 annually, and positive cash flow.

The transaction has prompted speculation that Bending Spoons could build a portfolio linking Miro with Airtable and potentially use bundling or cross-selling, although its intentions are not known. It also raises questions about late-stage software valuations and whether the deal signals a broader, smaller-scale SaaS correction; the relevant information is not public.