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> After Bending Spoons acquired Evernote in November 2022, the company laid off 129 people in February 2023. At that time, a spokesperson told TechCrunch that t
by beej71 3y ago
> After Bending Spoons acquired Evernote in November 2022, the company laid off 129 people in February 2023. At that time, a spokesperson told TechCrunch that the notetaking app has “been unprofitable for years and the situation was unsustainable in the long term.”
"Hey, have you seen this Evernote company?"
"Yeah, they've been unprofitable for years and are unsustainable in the long term."
"So... buy?"
- TheCleric 3y agoUnfortunately, there are profitable ways to do this such as leveraged buyouts where you take out debt in the purchased company’s name to cover the purchase, extract as much revenue as possible, and then leave someone else holding the debt. This is the private equity model.