Yahoo Nears Deal to Sell Aol to Bending Spoons for $1.4b
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Tech AcquisitionMedia ConsolidationYahoo
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Yahoo is nearing a deal to sell AOL to Italian company Bending Spoons for $1.4B, sparking discussions about the implications of the sale on the media landscape.
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https://sifted.eu/articles/bending-spoons-500m-e-debt-raise
> In an interview with Sifted in April, Ferrari said Bending Spoons is expecting to make revenue north of $1.1bn this year — and all of its businesses are profitable.
> Ferrari also told Sifted in April that Bending Spoons had over $1bn to spend on at least three further acquisitions before the end of the year. The extra €500m is to “grow even faster”, the company confirmed in an email.
Evernote. Meetup. Brightcove. Komoot. Vimeo.
After buying them they lay off most or all of the staff, because they aren't really going to keep them going, they just need them to keep going long enough to
a. Change the TOS to say "we can sell you data to whoever"
b. hoover up all the data