WeTransfer now he speaks Italian. The global file sharing platform founded in the Netherlands was acquired by Bending Spoons, a tech company founded in 2013. The company, led by CEO Luca Ferrari, is known for creating and managing successful apps, including Evernote and Meetup, and has built a portfolio of digital products that serve millions of users globally.
“WeTransfer is a highly respected name in the tech and creative spaces. We are excited to become the new owners and we feel a strong sense of responsibility in helping the brand and the company thrive for many years to come,” said the Ferrari CEO.
The acquisition of WeTransfer represents revenge for the company, which in 2022 had attempted to list on the Amsterdam Stock Exchange with a valuation of more than 700 million euros, but had given up due to market volatility.
WeTransfer: A file sharing giant
WeTransfer, a sharing platform, has become a reference name for those who need to send large files via the Internet. Its infrastructure uses cloud computing and storage technologies to manage file uploading, temporary storage, and downloading. With 600.000 subscribers and 80 million monthly active users, WeTransfer has solidified its position as an industry leader.
Bending Spoons' acquisition of WeTransfer represents astrategic operation of great importance. With this move, Bending Spoons not only expands its portfolio, but strengthens its position in the European and global technology market. The acquisition follows other important transactions carried out by Bending Spoons, including thepurchase of StreamYard and Issuu, which helped surpass $3 billion in enterprise value.
“Nurturing creative communities and amplifying their voices has been key to our success. Some of Bending Spoons' most successful products are tools that serve creativity, so we are confident that this milestone will complement both businesses, fuel our growth and help us create even more value for the creative industries overall,” commented the CEO of WeTransfer, the CEO Alexandar Vassilev.
To complete the acquisition, Bending Spoons was assisted by a team of high-profile legal and financial advisors. A&O Shearman acted as legal advisor for the M&A, while Latham and Watkins provided legal advice for financial matters. EY Advisory SpA played a crucial role in the consultancy process.
Wetransfer's prices will probably increase. There have been restrictions on the free version recently. Even free use is no longer what it used to be. Although Wetransfer has the same atmosphere, options like sendgb seem advantageous for file sharing.