不自研、只收购，年入7亿美金，全球最赚钱的应用工厂是如何做成的？

Core Insights - Bending Spoons is a notable European non-gaming app factory that recently announced a cash acquisition of Vimeo for approximately $1.38 billion, showcasing its strategy of growth through acquisitions rather than in-house development [1][2] - The company has achieved an impressive annual revenue of $700 million for 2024, with a gross margin of 77%, significantly above industry averages [2] Acquisition Strategy - The company's business model focuses on acquiring tech companies with untapped potential, which can be optimized through Bending Spoons' operational capabilities [6][8] - Acquisitions are viewed as a means to "buy time" and "buy advantages," allowing the company to leverage existing brands and user bases rather than starting from scratch [12][13] - Bending Spoons has developed a robust internal platform that provides shared technology, operational logic, and marketing systems across its diverse product offerings [10][38] Financial Performance - For 2024, Bending Spoons anticipates revenues slightly exceeding $700 million, with projections of around $1.2 billion for 2025 [23] - The company emphasizes adjusted EBITDA as a more accurate measure of profitability, as net profit can be misleading due to amortization and one-time expenses related to acquisitions [26][30] Internal Systems and Competitive Advantage - The core competitive advantage lies in the internal systems and tools developed over years, which enable efficient operations across various digital products [38] - The company employs a rigorous evaluation process for potential acquisitions, assessing product potential, technology, monetization capabilities, and organizational structure [33][34] Employee and Operational Efficiency - Bending Spoons focuses on creating a lean and efficient team structure, reducing management layers, and empowering employees to take ownership of their work [46][48] - The company offers competitive salaries and benefits, attracting top talent from prestigious institutions, which contributes to its strong employer brand [45][51] Future Outlook - While there are no immediate plans for an IPO, the company is open to evaluating the possibility in the future, particularly to access larger capital markets [73][76] - Bending Spoons continues to prioritize its operational independence and flexibility, despite the pressures that come with significant external financing [65][68]