The founder of Bending Spoons, an Italian company that has been quietly acquiring beloved but struggling internet brands, is celebrating its $1.8 billion success with humble words of caution.
For those who may not be familiar, Bending Spoons was once a relatively small startup that made a name for itself by buying and then revamping underperforming companies like Petstore.com and Pogo.com. The company's early successes were largely due to its ability to identify emerging trends and capitalize on them. However, as the company grew in size, it began to take on more responsibilities and faced increased pressure from investors.
The co-founders of Bending Spoons have taken a step back to reflect on their experiences and learned valuable lessons from their own startup's failure. They caution against becoming too attached to acquisitions or overextending resources, saying that the success of these deals is not guaranteed. "We've seen it time and time again," said one co-founder in an interview. "You have to be careful about how you approach this business and not take on too much." Despite their words of caution, Bending Spoons remains a dominant player in the digital advertising industry, with a portfolio that includes some of its former acquisitions.