TL;DR
Bending Spoons is pricing its US IPO at $26 to $28 per share, seeking up to $1.62B at a $19B valuation with an early-July debut.
Bending Spoons, the Italian software company that acquires and restructures digital businesses, is seeking to raise as much as $1.62 billion in its US initial public offering, Reuters reported on Monday. The company plans to market 58 million shares at $26 to $28 each, with an early-July debut on the Nasdaq under the ticker BSP.
At the top of the price range, Bending Spoons would carry a valuation of roughly $19 billion, according to people familiar with the matter cited by Reuters. That represents a significant jump from the $11 billion pre-money valuation the company achieved when it raised $710 million in late 2025, in a round backed by T. Rowe Price, Baillie Gifford, Fidelity, and Durable Capital Partners.
About 60 percent of the IPO shares are expected to come from the company as primary stock, with the remainder sold by existing shareholders including Baillie Gifford. Goldman Sachs, JPMorgan Chase, and Allen & Co are leading the offering.
The listing would be one of the largest IPOs by a European company this year and a rare public market test for a major software firm at a time when artificial intelligence is reshaping business models across the sector. BNP Paribas recently argued that the wave of US mega-IPOs from SpaceX, OpenAI, and Anthropic would pull European tech companies toward public markets, and Bending Spoons is now the most prominent example of that thesis in action.
Founded in Milan in 2013 by CEO Luca Ferrari and four co-founders with roughly $40,000 in seed capital, Bending Spoons has grown through an aggressive acquisition strategy that more closely resembles private equity than traditional software development. The company acquires established but underperforming digital products, strips out costs, rebuilds the technology, and runs them at scale.
The portfolio now spans video platform Vimeo, acquired for $1.38 billion last year, file-sharing service WeTransfer, internet brand AOL, ticketing marketplace Eventbrite, note-taking app Evernote, outdoor navigation tool Komoot, and pet tracker Tractive. The acquisitions are routinely followed by deep staff cuts, with layoffs at acquired companies often reaching 70 percent or more of headcount.
The strategy has produced rapid revenue growth. Annual revenue rose from $387 million in 2023 to $671 million in 2024 and reached $1,310 million in 2025, a compound annual growth rate of 84 percent.
First-quarter 2026 results showed the model turning profitable. Bending Spoons reported net income of roughly $28 million on revenue of $601 million, compared with a net loss of $112 million on revenue of $259 million in the same period a year earlier.
The IPO arrives in a US market that has regained momentum after a prolonged slowdown. Companies have raised a combined $150 billion through 179 US IPOs so far this year, the strongest start since 2021, according to Dealogic. SpaceX’s record-breaking debut earlier this month and Cerebras Systems’ listing have reflected renewed appetite for high-profile technology offerings.
For European tech, the Bending Spoons listing underscores a persistent pattern: the continent’s largest technology companies still choose US exchanges for their deeper capital pools and richer valuations. Ferrari’s stake in the company is now reportedly worth $1.4 billion, a figure built almost entirely on a playbook that did not exist in European venture capital a decade ago.
