Italian app developer Bending Spoons will lay off 75% of WeTransfer staff, CEO Luca Ferrari said in a statement on Sunday. Ferrari said in an email to Reuters, “I won’t be more specific at this stage because the layoff hasn’t been fully defined yet.” Bending Spoons acquired WeTransfer in July, marking its fifth acquisition this year. The company raised $155 million in February through a capital increase, bringing its valuation to $2.55 billion.
The owner of WeTransfer, founded in the Netherlands in 2009, had planned for an initial public offering in Amsterdam with a valuation of up to 716 million euros in 2022. However, due to market volatility, the plan was abandoned. Reports from TechCrunch and Dutch media previously mentioned the impending job cuts at the company.
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