On 4 September 2026, Bending Spoons completed its acquisition of Airtable, its first deal since going public on Nasdaq in July 2026, at a $1.285 billion enterprise value, roughly $2.25 billion in equity value once you include net cash. Six days later, on 10 September, it agreed to buy Miro too, for a $1.355 billion enterprise value, around $1.79 billion in equity value.
Two well-known collaboration-software names, bought by the same acquirer, six days apart, both at steep discounts to their historic peak valuations. Airtable's deal values it far below the more than $11 billion it was worth at its 2021 peak, despite Airtable's ARR sitting at roughly $480 million and growing more than 20% year-over-year. Miro, which has about $600 million in ARR and more than 250,000 organisations as customers, went for a price that similarly undercuts what growth-stage investors were once willing to pay for it. Notably, $295 million of the Miro proceeds are being rolled straight back into Bending Spoons equity by some of Miro's own shareholders, rather than taken as cash.
Who is Bending Spoons, and why does this matter
Bending Spoons is an Italian app and software company that listed on Nasdaq under the ticker BSP in July 2026. Airtable was its first acquisition as a public company, and it didn't pause for breath before announcing Miro less than a week later. That cadence, two nine-figure-ARR SaaS acquisitions in one week right after an IPO, points to a company executing a fast roll-up strategy with newly available public-market capital, not opportunistically picking up one distressed asset.
The valuations are the other half of the story. Both Airtable and Miro are being bought at prices that are a fraction of what the growth-stage market once assigned them, even though both are large, growing, real businesses by ARR. Real revenue, real growth, but a valuation reset: that's exactly the profile a roll-up acquirer looks for, mature SaaS products with entrenched user bases that the public and late-stage private markets have simply stopped pricing at growth multiples.
What this means if you compete with Airtable or Miro
Acquisitions like this create a window, and the window is usually measured in months, not years. Integrations get reprioritised, support queues change hands, roadmaps get paused while the acquirer decides what to keep, and pricing sometimes moves as the new owner looks for synergies across its portfolio. If you sell a product that competes directly with Airtable, no-code databases, work management, or Miro, visual collaboration, whiteboarding, this is the moment to watch customer sentiment closely. Airtable and Miro customers who are churning or considering it are more reachable right now than they will be once Bending Spoons settles into steady-state ownership of both products.
That doesn't mean assuming either product degrades. Bending Spoons has an interest in keeping both franchises healthy; a roll-up strategy only works if the acquired ARR holds. But a restructured roadmap and support organisation is a real, predictable disruption window, and it's worth positioning for regardless of how the products themselves fare long-term.
What to actually do if you're a customer of either
If your company runs meaningful workflows on Airtable or Miro, don't wait for an announcement about you specifically. Ask your account team directly what changes, if any, are planned to pricing, support tiers or product roadmap over the next two quarters, and get it in writing where you can. If you're on a multi-year contract, check the renewal and termination clauses now, while you have leverage as an existing customer, rather than after any changes are announced.
If you're a founder who might one day be an acquisition target yourself, treat this pair of deals as a data point on how the market is currently valuing mature, large-ARR SaaS companies relative to their private-market peaks: at a real discount, even for businesses growing at more than 20%. That's useful context to have before your own next fundraising conversation, where investors will be benchmarking against exactly these kinds of outcomes.
The bottom line
Bending Spoons bought Airtable for a $1.285 billion enterprise value and Miro for $1.355 billion, six days apart, both below their historic peak valuations despite hundreds of millions in ARR and continued growth. If you compete with either product or run critical workflows on them, use the next few months, while the roll-up is still being integrated, to check in with your account team or make your move, rather than assuming things will stay exactly as they are.