Topic
EV/revenue and EV/EBITDA comparables for public and private B2B software, by subsector and growth bracket.
Bending Spoons paid 2.7 times ARR for Airtable and 2.3 times for Miro, signed 37 days apart, according to SaaStr. SaaStr calls it a likely caller for mid-sized B2B software companies, but two deals from one buyer are a thin benchmark.
Reality
Bending Spoons has bought two of the decade's better-known B2B software brands inside about a month, and in both the cash the companies had banked went back to sellers at face value while the growth rate moved the price.
Perspective Coverage
6 publishersReality
SaaStr's answer to a hypothetical values a never-sold Slack at $16 billion to $20 billion, an estimate that depends on Atlassian's cross-sell economics and on a Slack revenue figure Salesforce last put in writing for fiscal 2023.
Reality
A single month of trading undid eight months of AI-disruption pricing in B2B software. That is a multiple moving, not a business changing. The winners were sorted by whose meter the agent workloads run through.
Reality
Bending Spoons is buying its second discounted collaboration platform in five weeks. Some Miro shareholders are putting part of their proceeds into stock of a buyer the public market has just marked up.
Reality
Kroll's Summer 2026 report shows a near-record number of software deals and, once the Cursor purchase comes out, one of the thinnest dollar totals on record. Its own subsector table shows the Rule of 40 no longer explaining price.
Reality