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Bending Spoons Deploys AI to Overhaul Acquired Software Companies

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Bending Spoons Deploys AI to Overhaul Acquired Software Companies

Artificial intelligence has been valuable to Bending Spoons, a company that buys digital businesses and then increases their revenue per customer, CEO Luca Ferrari told Bloomberg in a report published Friday (Oct. 9).

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Bending Spoons’ portfolio includes AOL, Vimeo, WeTransfer and Evernote. When the firm buys and overhauls companies, it often boosts the revenue per customer by cutting staff and raising subscription companies, according to the report.

One way AI has helped the company in its mission is by driving down the valuations of software companies. During the so-called SaaSpocalypse earlier this year, investors’ concerns about the impact of AI on software-as-a-service companies drove down the companies’ valuations. While those valuations have largely recovered, Ferrari said they are now reasonable, per the report.

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AI also helps Bending Spoons accelerate its overhaul of the software companies it buys. The firm uses AI to write at least 90% of its code, design products, optimize monetization and evaluate job applications, according to the report.

When Bending Spoons filed for an initial public offering with the Securities and Exchange Commission in June, the company said in the filing that it had identified more than 1,000 digital businesses as potential acquisition targets, representing close to $400 billion in aggregate estimated annual revenue in 2025.


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