Milan-based technology company Bending Spoons has confirmed it has agreed to acquire StreamYard Top Corp (also known as Hopin), which operates the products StreamYard, Streamable, and Superwave. StreamYard has powered the live-streaming and recording of more than 60 million videos to date.
“We admire what the StreamYard team has built and look forward to leveraging our know-how and technologies to help its solutions reach new heights going forward,” said Bending Spoons co-founder and CEO, Luca Ferrari.
“Our team has built incredible brands, technologies, and global communities across our suite of products comprised of StreamYard, Streamable, and Superwave. We are grateful to our team and customers and look forward to seeing the business and products grow to the next level with Bending Spoons,” said Hopin CEO, Badri Rajasekar.
Hopin’s virtual-meeting platform technology was very successful during the pandemic but the business waned with the return to live in-person events and much of the hype faded. The company sold its Events platform and Session product to RingCentral at a knockdown price in August 2023 – an initial $15m rising to $35m potentially depending on targets. At the height of its success, Hopin had been valued at over $7.5bn.
Now the remaining products have been acquired by Bending Spoons. Full financial details of the deal were not disclosed.
For the acquisition, Bending Spoons was assisted on legal matters by Willkie Farr & Gallagher, and with its financial and tax due diligence by KPMG.
StreamYard Top Corp was assisted on legal matters by Goodwin Procter, with LionTree Advisors LLC acting as exclusive financial advisors.
