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Private Equity Hipsters Are Coming for Your Favorite Apps

Italian technology firm Bending Spoons has emerged as an unconventional private equity player, acquiring struggling tech companies and dramatically restructuring them for profitability, most notably with its purchase of note-taking app Evernote. The Milan-based company, valued at $2.6 billion, ha...

Italian technology firm Bending Spoons has emerged as an unconventional private equity player, acquiring struggling tech companies and dramatically restructuring them for profitability, most notably with its purchase of note-taking app Evernote. CEO Luca Ferrari has told investors the company could deploy up to $2 billion for future acquisitions. Bending Spoons typically targets subscription-based software companies with steady cash flow, implementing steep price hikes and significant staff reductions post-acquisition.

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