Bending Spoons files for Nasdaq IPO, targets $20 billion valuation

Bending Spoons moved to take its buying spree public, filing for a Nasdaq IPO that aims to value the Milan-based company at at least $20 billion. The deal would give investors a close look at one of Europe’s most aggressive digital roll-up firms, whose business model is built on buying aging internet brands, cutting costs and then trying to lift cash flow through product upgrades and tighter monetization.

Founded in 2013, Bending Spoons says it has served more than a billion people and reaches around 400 million monthly active users and more than 10 million paying customers. The company says it operates with a team of 1,000 spread across dozens of countries and owns or runs a portfolio that includes AOL, Vimeo, WeTransfer, Eventbrite, Evernote, komoot, Meetup, Remini and StreamYard. Its acquisition playbook is straightforward: strengthen software, infrastructure, design and customer support after a deal closes.

The filing lands after a sharp turnaround in Bending Spoons’ latest numbers. For the three months ended March 31, the company reported net income of $27.5 million on revenue of $601 million, compared with a loss of $112.2 million on revenue of $259 million a year earlier. That swing matters because it suggests the company’s subscription-heavy model can deliver far steadier earnings when the assets it buys are integrated successfully. Bending Spoons also said it and some existing stockholders plan to sell shares in the offering, a detail that will matter to investors gauging how much dilution is built into the debut.

The valuation target is far above the $11 billion mark assigned in Bending Spoons’ October funding round, underscoring how quickly the company has tried to move from private-market consolidator to public-market growth story. CEO Luca Ferrari has said the company sees more than 1,000 digital businesses as possible acquisition targets, signaling that the IPO is intended to finance more than one listing. It is also a bet that public investors will pay for scale, not just profitability.

Recent deals show how Bending Spoons has been assembling that scale. Vimeo said on September 10, 2025 that it agreed to be acquired by Bending Spoons in an all-cash transaction valued at about $1.38 billion, or $7.85 per share, and the acquisition closed on November 24, 2025. Eventbrite announced on December 1, 2025 that it had agreed to be acquired in an all-cash deal valued at about $500 million, and a March 10, 2026 SEC filing said that deal had closed. Bending Spoons also said it acquired WeTransfer in July 2024.

The Nasdaq filing now puts that strategy under public-market scrutiny. Investors will have to decide whether Bending Spoons is building a durable technology operator or using the public market to finance a finely tuned financial engineering play built on legacy platforms with still-recognizable brands.