Bending Spoons acquires Eventbrite for ~$500M in an all-cash deal, following its $1.38B acquisition of Vimeo in September and its pending acquisition of AOL (Cate Lawrence/Tech.eu)
PositiveArtificial Intelligence
- Bending Spoons has announced its acquisition of Eventbrite for approximately $500 million in an all-cash deal, following its earlier $1.38 billion acquisition of Vimeo and a pending acquisition of AOL. This move is part of Bending Spoons' strategy to expand its portfolio by acquiring established brands in need of revitalization.
- The acquisition of Eventbrite, which has seen a significant decline from its $1.76 billion valuation at its 2018 IPO, reflects Bending Spoons' commitment to reinvigorating struggling brands and enhancing its market presence in the events sector.
- This trend of acquiring distressed companies, often referred to as venture capital 'zombies', highlights a growing investment strategy focused on 'buy, fix, and hold' approaches, which aims to restore value to brands that have faced challenges in the competitive landscape.
— via World Pulse Now AI Editorial System
