Bending Spoons just bought Miro for $1.36B. It was worth $17.5B in 2022.

Miro is now a Bending Spoons property.

$1.355 billion in enterprise value. $1.79 billion equity.

In 2022, investors valued Miro at $17.5 billion. That's a 90% markdown in four years.

Bending Spoons closed the Airtable acquisition last week. $1.285 billion. Two billion-dollar SaaS acquisitions in five weeks.

Here's the pattern Bending Spoons follows:

Acquire. Cut costs. Raise prices. Invest earnings into the next acquisition.

They own AOL, Evernote, Vimeo, WeTransfer, Eventbrite. The playbook is proven.

Miro has $600 million in ARR. 90% from enterprise customers. 250,000 organizations use it. 750 customers pay over $100,000 annually.

If you're one of those 250,000 organizations, expect pricing changes. Bending Spoons doesn't buy companies to maintain the status quo.

The ZIRP-era SaaS valuation collapse is now a buying strategy. Bending Spoons went public in July. They have capital. They have debt facilities. They have a list of 1,000 potential targets.

Your SaaS stack is being repriced in real time. Every tool you depend on is a potential acquisition target. Audit your vendor contracts now. Know which of your critical tools have declining valuations. That's where the pricing pressure hits next.

SOURCE: https://investors.bendingspoons.com/newsroom/bending-spoons-agrees-to-acquire-miro
VERIFIED: Bending Spoons investor relations, Reuters, CNBC, Morningstar
SIGNAL: The SaaS consolidation wave is accelerating. Bending Spoons is buying distressed enterprise tools at 90% discounts and will restructure them for profitability. Enterprises using these tools face pricing and feature disruption.