20VC: Bending Spoons: The Most Untold Success Story in Startups: Lessons Scaling to 500M Downloads, $360M in Reported 2023 Sales and a $2.55BN Valuation... Bootstrapped with Luca Ferrari, Co-Founder and CEO @ Bending Spoons
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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The Hybrid Approach of Product Acquisition and Improvement
The main difference between private equity and their approach is that they focus on cheap financing and high-level improvements to make a profit in a few years. In this case, they are very hands-on, rewriting software, changing IT architecture, designing user experience, adding/removing features, and dramatically revising marketing and monetization. The team consists mostly of software engineers, AI researchers, and data scientists. The approach is likened to a mix between private equity and a product/technology company, where they acquire products, regardless of their growth, as long as the opportunity to improve them is significant and the price is right.
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