Observed Signal · Sep 16, 2026 · Podcast / Discussion · Source: Trending Topics (DACH/CEE Innovation & Tech) · Impact: 4/5 · Sentiment: Positive
M&A Market: Founders Dispatch: Bending Spoons' Bargain Acquisitions and Scale-Up Europe Fund
In the second episode of the podcast 'Founders Dispatch', Stefan Köppl of Samira Advisors and Jakob Steinschaden discuss Italy's Bending Spoons, a tech giant with a $24 billion valuation, and its aggressive acquisition strategy in Europe. The company has bought Miro for $1.8 billion (90% below peak) and Airtable for $1.3 billion (80% discount), following a playbook of mass layoffs and cash flow optimization. The episode also covers the Scale-Up Europe Fund, a €5 billion EU fund managed by EQT, which has rapidly made five investments, including in IceEye, Lovable, and a €3 billion round in Mistral AI. Mistral's challenges with profitability and a 'neo-cloud' strategy are highlighted. The discussion touches on Europe's sovereignty dilemma, noting Samsung's investment in Mistral and the broader question of technological independence.
High relevance to AdTech/MarTech due to major acquisitions and funding in tech sector, though not directly AdTech-specific. The podcast discusses significant M&A and investment activities that impact the broader tech ecosystem.
Key Takeaways & Evidence Grounding
- Bending Spoons has a $24 billion market valuation.
- Miro was acquired for $1.8 billion, 90% below its peak valuation.
- Airtable was acquired for $1.3 billion, an 80% discount from peak.
- The Scale-Up Europe Fund, a €5 billion EU fund managed by EQT, has made five investments rapidly.
- Mistral AI received a €3 billion funding round.
- Samsung has invested in Mistral AI.
Connected Companies & Entities
5 Entities mappedAirtable
No-code enterprise app-building and workflow automation software platform.
“Airtable für 1,3 Milliarden Dollar (80% Discount)...”
Miro
Visual collaboration SaaS for enterprise teamwork and planning.
“Miro für 1,8 Milliarden Dollar (90% unter Peak-Bewertung)...”
Bending Spoons
Acquirer and operator of consumer apps, SaaS tools and media.
“Bending Spoons aus Mailand: Der italienische Tech-Gigant mit 24 Milliarden Dollar Börsenbewertung und seine aggressive Akquisitionsstrategie...”
EQT Group
Investor / PEGlobal private markets investment and asset management firm.
“Scale-Up Europe Fund startet durch: 5 Milliarden Euro schwerer EU-Fonds unter EQT-Management...”
Mistral AI
Frontier AI models, developer tools and enterprise agent platform.
“Fünf Investments in Rekordzeit: Von IceEye über Lovable bis zur 3-Milliarden-Euro-Runde bei Mistral...”
Ontology Mapping & Concepts
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