2 ms·

Bending Spoons to buy Miro for $1.36B, 90% less than its 2022 valuation

10 points by jaredwiener 24d ago

throwitaway222 24d ago
One reason this is potentially important- AI is now the editor. We're going to see a lot less WYSIWIG editors and more "move it under the other box and show a diagram of how the two systems work together to the right of that" Autocad, Adobe, everything can be replaced with text prompts. We only need the final view, not the "editor" part.
- toomuchtodo 24d ago
  I think AI is a contributor, but really it's interest rates. Valuations were previously high when money was cheap. Money is no longer cheap, and won't be for the foreseeable future. Therefore, valuations have compressed, it's time to call it quits, and so you'll see a lot of deal M&A as these economic investment decisions are made. https://www.carlyle.com/carlyle-compass/software-do-we-go-now https://www.carlyle.com/carlyle-compass/software-do-we-go-no... https://www.cnbc.com/2026/03/16/apollo-john-zito-private-equity-software-valuations.html https://www.cnbc.com/2026/03/16/apollo-john-zito-private-equ... https://aventis-advisors.com/software-valuation-multiples/ https://aventis-advisors.com/software-valuation-multiples/ The "SaaSpocalypse" is really AI providing cover for "our valuations and multiples previously based on zero interest rate policy are severely impaired, and it's time to unload to sophisticated investors to get liquid." Very similar to how AI is being used as cover for labor efficiency measures like operating with a bare bones crew, offshoring to India and LATAM, etc. If your business or investment is interest rate sensitive, you're gonna have a bad time. And interest rates, based on yield curves and the bond market, are fairly likely to continue to go up. (a component of my work is due diligence for tech M&A)
  - toomuchtodo 23d ago
    Who's next for Bending Spoons to acquire? - https://news.ycombinator.com/item?id=49659012 https://news.ycombinator.com/item?id=49659012 - September 2026
ChrisArchitect 24d ago
Earlier on source: https://news.ycombinator.com/item?id=49643848 https://news.ycombinator.com/item?id=49643848

10 points by jaredwiener 24d ago

One reason this is potentially important- AI is now the editor. We're going to see a lot less WYSIWIG editors and more "move it under the other box and show a diagram of how the two systems work together to the right of that" Autocad, Adobe, everything can be replaced with text prompts. We only need the final view, not the "editor" part.

toomuchtodo 24d ago
I think AI is a contributor, but really it's interest rates. Valuations were previously high when money was cheap. Money is no longer cheap, and won't be for the foreseeable future. Therefore, valuations have compressed, it's time to call it quits, and so you'll see a lot of deal M&A as these economic investment decisions are made. https://www.carlyle.com/carlyle-compass/software-do-we-go-now https://www.carlyle.com/carlyle-compass/software-do-we-go-no... https://www.cnbc.com/2026/03/16/apollo-john-zito-private-equity-software-valuations.html https://www.cnbc.com/2026/03/16/apollo-john-zito-private-equ... https://aventis-advisors.com/software-valuation-multiples/ https://aventis-advisors.com/software-valuation-multiples/ The "SaaSpocalypse" is really AI providing cover for "our valuations and multiples previously based on zero interest rate policy are severely impaired, and it's time to unload to sophisticated investors to get liquid." Very similar to how AI is being used as cover for labor efficiency measures like operating with a bare bones crew, offshoring to India and LATAM, etc. If your business or investment is interest rate sensitive, you're gonna have a bad time. And interest rates, based on yield curves and the bond market, are fairly likely to continue to go up. (a component of my work is due diligence for tech M&A)
- toomuchtodo 23d ago
  Who's next for Bending Spoons to acquire? - https://news.ycombinator.com/item?id=49659012 https://news.ycombinator.com/item?id=49659012 - September 2026

ChrisArchitect 24d ago

Earlier on source: https://news.ycombinator.com/item?id=49643848 https://news.ycombinator.com/item?id=49643848