This morning I shared with the Miro team that we’ve signed a definitive agreement to join Bending Spoons. What I said to them is what I’d say to anyone who has followed this company over the past fifteen years, so I’m publishing the note here with only the internal logistics removed.
You can also read more about the details of the agreement in our press release.
Team,
I have big news to share: Today, we signed a definitive agreement for Miro to be acquired by Bending Spoons. We expect the deal to close in the fourth quarter of 2026, subject to receipt of regulatory approvals and other customary closing conditions. Until closing, nothing changes in how we operate.
This is a good outcome for Miro, and I’m excited about what comes next. Below, I’ll cover why we made this decision, share more about Bending Spoons and the deal itself, and explain what this means for you and what happens next.
Why
Fifteen years ago, Miro started as an online whiteboard. Since then, we’ve defined the visual collaboration category and built a product used by millions of people and thousands of organizations worldwide.
When Bending Spoons approached us with an offer, we agreed that with the right partner we could get further and faster than ever before. Specifically, we wanted someone who could deliver on these three key dimensions:
- The best long-term outcome for our users and customers (which meant an owner who will keep investing in Miro for years)
- The best outcome for Mironeers
- The best outcome for the investors who backed us
The more time we spent with the Bending Spoons team, the more we found we had in common. Like us, they share an obsession with providing excellent solutions to their customers, a strong focus on hiring and developing great talent, a continuous learning mindset, and, above all, a long-term approach to building companies and products.
A decision like this is always personal for a founder: fifteen years of building alongside you sit behind it. I’m making it because I’m completely convinced it’s the right thing for Miro.
About Bending Spoons
Bending Spoons is a technology company headquartered in Milan that recently went public in a successful IPO. Their portfolio includes Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo, and WeTransfer, and has served more than a billion people. We see Miro as highly complementary to the portfolio they’re building. By joining this portfolio, Miro will gain access to resources and advanced proprietary platform technologies, boosting innovation and growth and ultimately helping us better serve our customers.
They have a strong track record of investing in best-in-class products and brands, and their strategy has created substantial value for everyone involved. I also believe they’re one of the most interesting companies in technology, and what stood out to me after spending time with them is their exceptional product taste, deep technical talent, and how much they care about user experience. Moreover, Bending Spoons has never sold any material business they’ve acquired.
To learn more about Bending Spoons, watch this interview with Luca Ferrari, their CEO.
The deal
Two numbers appear in the press release, and they mean different things.
- Equity value. This is what flows to shareholders. In this transaction, it’s approximately $1.79 billion.
- Enterprise value. This is the value of the business itself, before accounting for cash and debt. Miro’s is $1.355 billion — add our net cash, and you get the equity value above.
The organization
The Bending Spoons approach is to spend time understanding the business first. They’ll work alongside us after closing, get to know the teams and how we operate, and then make decisions about structure and roles, subject to local legal requirements. They’ll need time to study how we operate after closing, and will share more as soon as they can.
Finally
Thank you all for this once-in-a-lifetime journey. Fifteen years ago, this was an idea about giving teams one place to think together and bring ideas to life. Today, nearly 4 million people are using the paid version of Miro, and what we’ve built together has reached more than 100 million people around the world.
We should be proud of how we got here. We made bold bets, operated profitably, and built a durable company through an extraordinarily challenging period for the technology industry. A multi-billion dollar outcome is rare, and very few companies ever reach this point. What we built together goes well beyond the company and the product. It’s the culture, the community, the brand, and the impact we’ve had. That belongs to all of you.
The best version of Miro is still ahead of us. Let’s go build it. Thank you!
Andrey
