Bending Spoons Files for Nasdaq IPO: Europe's Loss?

Jan de Vries · 2026-06-08

Milan-based startup Bending Spoons has officially filed for an IPO on the Nasdaq, marking a huge milestone for one of Europe's most closely watched tech companies. This comes after a period of explosive growth, and it's got everyone asking: is Europe about to lose another homegrown contender to the U.S. markets? Investors backing the business include heavyweights like Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity, Endeavor Catalyst, and even actor Ryan Reynolds. According to Reuters, the listing could value Bending Spoons at around $20 billion, though the company hasn't confirmed a target valuation. That's a lot of dough for a company that started as a mobile app developer. ### What Bending Spoons Does Differently Unlike many European startups that focus on building one flagship product, Bending Spoons takes a different route. They buy established digital companies that are underperforming, then restructure them, introduce subscription pricing, and use tech to boost efficiency. It's a bold strategy, and it's paid off big time. CEO Luca Ferrari put it this way in the IPO prospectus: "We see a vast opportunity ahead. We've identified more than 1,000 digital businesses (both private and public) that could be attractive acquisition targets in the future." That's not just ambition — that's a roadmap. ### A Rapid Growth Story The IPO filing comes after a period of incredible growth for the Italian company. During 2025, Bending Spoons: - Raised over $578 million - Acquired Vimeo in a $1.27 billion cash deal - Bought Eventbrite in a $497 million all-cash deal Founded in 2013 by CEO Luca Ferrari alongside co-founders Matteo Danieli, Francesco Patarnello, and Luca Querella, the company has evolved from a mobile app developer into a major consolidator of digital businesses. Their portfolio now includes some of the internet's best-known consumer and software brands. ### The Numbers Behind the Hype According to its filing with the U.S. Securities and Exchange Commission (SEC), Bending Spoons generated $1.31 billion in revenue during 2025, representing substantial growth compared to previous years. The company reported revenue of $601 million during the first quarter of 2026, an increase of more than 130% compared to the same period a year earlier. Net profit for the quarter reached approximately $27.5 million, reversing a loss recorded in the corresponding period of 2025. Subscription revenue continues to underpin the business model. The company disclosed that recurring subscriptions accounted for the overwhelming majority of its revenue, highlighting the growing importance of recurring income streams across digital services and software businesses. Bending Spoons also reported serving more than 500 million monthly active users across its portfolio in March 2026, including more than 9 million paying customers. ### The Acquisition Machine Over the past several years, the company has completed more than 50 acquisitions, including notable brands such as Eventbrite, Vimeo, WeTransfer, Evernote, Komoot, AOL, Brightcove, and StreamYard. Rather than focusing solely on organic expansion, Bending Spoons typically acquires companies that it believes are underperforming or facing operational challenges. It then implements restructuring measures, introduces new pricing strategies, and seeks to improve profitability. While this approach has delivered strong financial growth, it's also generated debate due to the substantial workforce reductions that have often followed acquisitions. That's a real trade-off — efficiency comes at a human cost. ### AI at the Core The company's prospectus also highlights the growing role of AI within its operations. Bending Spoons stated that AI tools are increasingly being used across software development, customer support, hiring, and analytics functions. The business claims that a large proportion of software code changes are now generated or supported by AI systems, reflecting a broader trend among technology companies seeking productivity gains through automation. ### What This Means for Europe Should the offering proceed as expected, Bending Spoons would become one of the most prominent European technology companies to list in the United States in recent years. For the broader European startup ecosystem, the listing could serve as a wake-up call. It's a reminder that the U.S. markets still offer deeper pools of capital and higher valuations — but also that Europe's best innovators might keep heading west.