Bending Spoons buys Miro for $1.36B, 90% off peak value

Milan-based Bending Spoons has entered a definitive agreement to acquire Miro, the collaboration whiteboard now sold as an AI innovation workspace. TechCrunch (Ram Iyer, 10 September 2026) puts the purchase at $1.36 billion in cash, with equity value of $1.79 billion.

This is a signed definitive acquisition agreement, unanimously approved by both boards, covering 100% of Miro's issued and outstanding shares. It is not a closed sale. EU-Startups (Ethan Conroy, 10 September 2026) frames enterprise value at about 1.7 billion euros, or about $1.4 billion, so the cash, equity, and EV labels do not match one-for-one across outlets.

The 90% haircut is versus Miro's $17.5 billion valuation in late 2021, the peak TechCrunch cites in the body. Some wire shorthand still says 2022 valuation. TechCrunch's own math on the cash price is a 92% dip from that late 2021 mark.

What the price headlines skip is the close clock and the operating base. The companies expect the deal to close in the fourth quarter of 2026, subject to customary conditions and regulatory approvals, and they will keep operating independently until then. Bending Spoons says Miro now runs about $600 million of annual recurring revenue, nearly 90% from business and enterprise customers, with about $435 million of net cash and a profitable standing.

CEO Luca Ferrari said more than 250,000 organizations already run Miro in their workflows. Miro CEO Andrey Khusid put paying users at nearly 4 million, plus more than 750 customers above $100,000 of ARR, against about 100 million total users.

Bending Spoons is the same serial acquirer that bought Airtable for about $1.28 billion last month, per TechCrunch, after Eventbrite, Vimeo, WeTransfer, and Evernote. Other private-company and deal tape on Techpresso includes Cognition's $2 billion Series E, Higgsfield's $400 million Series B, Analog Devices' $1.35 billion Alif agreement, and this week's Automattic board leave.

If you sell against Miro, sit on its cap table, or model SaaS exits, book $1.36 billion cash and $1.79 billion equity as the signed terms, keep Q4 2026 as a regulatory close rather than a done deal, and do not treat the two companies as one operator until that close actually prints.