Bending Spoons Files for Nasdaq IPO: Europe's Tech Dilemma

Jan de Vries · 2026-06-08

Milan-based Bending Spoons just filed for an IPO on the Nasdaq. It's a huge moment for one of Europe's most-watched tech companies, and it raises a pretty big question: is the continent losing its best talent to U.S. markets? ### The Numbers Behind the Filing Investors backing this ride include heavyweights like Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity, Endeavor Catalyst, and even actor Ryan Reynolds. Reuters says the listing could value Bending Spoons at around $20 billion, though the company hasn't confirmed that number yet. CEO Luca Ferrari wrote 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 a bold statement, but given their track record, it's hard to dismiss.  ### How Bending Spoons Grew So Fast The company didn't just grow organically. It went on a shopping spree. In 2025 alone, Bending Spoons raised over $580 million, bought Vimeo in a $1.27 billion cash deal, and acquired Eventbrite for $497 million all-cash. Founded in 2013 by Luca Ferrari, Matteo Danieli, Francesco Patarnello, and Luca Querella, the startup started as a mobile app developer. Now? It's a digital empire. - Over 50 acquisitions to date - Portfolio includes Eventbrite, Vimeo, WeTransfer, Evernote, Komoot, AOL, Brightcove, and StreamYard - More than 500 million monthly active users as of March 2026 - Over 9 million paying customers ### The Business Model: Buy, Fix, Profit Unlike most European startups that build one product, Bending Spoons buys underperforming companies and turns them around. They restructure, introduce subscription pricing, and squeeze out efficiencies. It's worked financially, but it's also sparked debate because of the layoffs that often follow. According to its SEC filing, Bending Spoons generated $1.31 billion in revenue during 2025. In the first quarter of 2026, revenue hit $601 million -- a 130% jump from the same period a year earlier. Net profit for that quarter was $27.5 million, reversing a loss from 2025. ### AI Is at the Core The company's prospectus highlights how AI is baked into everything. From software development to customer support, hiring, and analytics, AI tools are driving productivity. The company says a large chunk of its code changes are now generated or supported by AI systems. ### What This Means for Europe If the IPO goes through, Bending Spoons will be one of the most prominent European tech companies to list in the U.S. in years. For the broader European startup ecosystem, it's a double-edged sword. It proves European talent can build world-class companies, but it also shows that the biggest paydays still happen across the Atlantic. So, is Europe losing another tech contender? Maybe. But Bending Spoons is proof that the talent is there -- it's just chasing the capital.