WeTransfer, the popular file-sharing platform, is getting a radical transformation under new management from Bending Spoons. Acquired at the end of July for an estimated figure between 700 and 800 million euros, the Dutch company is preparing to face a significant restructuring that includes the layoff of 75% of its more than 350 employees. The news, confirmed by Luke Ferrari, CEO of Bending Spoons, was reported by TechCrunch and Dutch media.
Ferrari declined to elaborate, saying the restructuring is still being finalized but is seen as essential to the company’s future success. “Once we have a clear vision, we try to bridge the gap between the current state and the vision as quickly and completely as possible,” he added. “This usually involves significant changes in many areas, including the organization. While we don’t like to make painful or unpopular decisions, we are prepared to do so when we believe it is the right choice for the company to thrive.”
Bending Spoons: A History of Restructuring and Acquisitions
This move is not surprising considering the modus operandi of Bending Spoons, known for its significant post-acquisition restructuring. In the past, the company has also made significant layoffs at Evernote (129 employees) and the entire staff of Movies e Meetup.
The reduction in staff will be officially announced after the company completes its analysis of local regulations in the various countries where WeTransfer operates. In the meantime, Bending Spoons aims to make the platform leaner and more focused, with the goal of streamlining operations and ensuring long-term sustainable success.
Despite an attempt Failed IPO in 2022, Bending Spoons has continued to expand its reach. In February, the company raised $155 million in funding from Durable Capital Partners and other big-name investors like Baillie Gifford and Cox Enterprises, bringing its valuation to $2,55 billion. In addition to WeTransfer, Bending Spoons has recently acquired other major platforms like StreamYard and Mosaic, while a potential purchase of Vimeo fell through.
