Bending Spoons Prices IPO Above Range, Raising $1.68 Billion
The Milan-based software acquirer and its backers sold 58 million shares at $29 each, surpassing the marketed range of $26 to $28.
IPO pricing
On Tuesday, Bending Spoons and its backers priced the shares at $29 apiece, above the $26 to $28 range initially marketed. The company and existing shareholders sold about 58 million shares, raising $1.68 billion in total. The shares are expected to begin trading on the Nasdaq Global Select Market on Wednesday under the ticker "BSP". Goldman Sachs, JPMorgan, and Allen & Co are leading the offering.
Financial snapshot
For the first quarter of 2026, Bending Spoons reported $601.3 million in revenue, up from $258.9 million a year earlier. The company swung to a net profit of $27.5 million from a $112.2 million loss in the same period last year. Subscriptions accounted for 93% of 2025 revenue. The firm was valued at $11 billion in its last private funding round in October 2025.
- Q1 2025
- 258.9 USD million
- Q1 2026
- 601.3 USD million
Acquisition engine
Founded in Milan in 2013, Bending Spoons pursues a strategy of buying underperforming software businesses and overhauling them with its team of engineers. It owns more than 50 brands, including Evernote, WeTransfer, Vimeo, Brightcove, Meetup, Eventbrite, and AOL, serving over 500 million monthly active users. The company does not sell acquired businesses and uses their cash flows to fund further deals. CEO Luca Ferrari told Reuters,
In a 2024 interview with The New York Times, he described the company as a "hybrid between a private equity firm and Google."We're engineers and scientists, and we spend almost all of our time building technologies and products.
IPO market resurgence
The offering comes amid renewed momentum in the U.S. IPO market, following high-profile debuts from SpaceX and Cerebras Systems. Bending Spoons has identified more than 1,000 potential acquisition targets representing roughly $400 billion in annual revenue, signalling continued appetite for dealmaking. The company deployed more than $2 billion in capital for acquisitions in the first quarter of 2026, up from $194 million in all of 2023.
