Video service Vimeo has been sold to a controversial tech firm
One of the most controversial – and also most disliked – companies in the tech world is undoubtedly the Italian firm Bending Spoons.
The name might not mean much to the average consumer, but over the years the company has adopted a very particular growth strategy.
Bending Spoons buys well-known, often older, consumer-focused tech companies built around a single product. Typically, its shopping cart has included beloved mobile apps that the original owners failed to effectively monetize.
Its past acquisitions include the note-taking app Evernote, the digital publishing platform Issuu – used by newspapers in Finland as well - and the file-sharing service WeTransfer.
What has fueled user anger is the company's strategy of squeezing as much profit as possible out of these acquisitions. In the case of Evernote, for instance, it dramatically raised subscription prices, cut features for free users, and laid off most of the development team.
That same playbook has been repeated across several of its other deals.
Now the company has snapped up a small piece of internet history: Vimeo is now owned by Bending Spoons.

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