Ferrari: Bending Spoons does not filter M&A targets primarily by PMF strength
Luca Ferrari · $2.5 Billion Tech Empire Built On Acquisitions, Efficiency, & Pure Ambition w/ Founder, Luca Ferrari · Sep 20, 2024 · at 48:00
Luca Ferrari, co-founder and CEO of Bending Spoons, explains their M&A acquisition filtering criteria.
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“No, we don't really try to buy the product companies with the best product market fit. We do assign value to it, but ultimately something is only good to us if the price is appealing relative to the value we can let's say generate or the, you know, the value we can realize through that acquisition... It makes no sense for us to filter primarily by the intensity of product market fit. Rather we will try to have a hypothesis of how competitive we can be relative to other acquirers and how eager to sell The current owner is. Those are more like, those are factors that are more likely to correlate with value creation for us.”
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