Bending Spoons files for Nasdaq IPO at $20B valuation

Bending Spoons Files for Nasdaq IPO Under BSP Ticker

Milan-based Bending Spoons, the Italian technology company that has built a sprawling portfolio of once-faded digital brands, filed for an initial public offering in the United States on Monday, according to Reuters. The company will list on the Nasdaq Global Select Market under the ticker symbol “BSP”.channelnewsasia

An Acquisition Machine Goes Public

Goldman Sachs, J.P. Morgan, and Allen & Company are serving as global leads and joint bookrunning managers for the offering. The IPO had been anticipated since at least April, when Reuters reported that Bending Spoons had tapped banks for a listing that could value the company at roughly $20 billion — a sharp jump from the approximately $11 billion valuation it received in a $710 million funding round in late 2025.reuters

Founded in 2013 and named after a scene from “The Matrix,” Bending Spoons has become one of Europe’s most prominent technology companies through a distinctive strategy: acquiring established but underperforming digital products and overhauling them to boost profitability. Its portfolio now includes video platform Vimeo, note-taking app Evernote, file-sharing service WeTransfer, the AOL web portal, and events platform Eventbrite.channelnewsasia

The company’s prospectus disclosed revenue of $601 million and net income of $27.5 million in the first quarter of 2026, a stark reversal from a net loss of $112 million on revenue of $259 million in the same period a year earlier. Bending Spoons reported more than 500 million monthly active users and over 9 million monthly paying customers, with recurring subscriptions driving a large share of its revenue.

A Crowded IPO Window

The filing arrives during a busy stretch for new listings. The summer IPO window has attracted a flurry of offerings as issuers move to price deals ahead of SpaceX’s anticipated blockbuster debut, which is also targeting a mid-June listing.fortune

Bending Spoons CEO Luca Ferrari had signaled the company’s readiness for a public listing in a November 2025 interview with Reuters, projecting that adjusted EBITDA would reach $1.4 billion in 2026, roughly double the prior year’s figure, fueled by the integration of Vimeo and AOL. To finance its acquisition spree, the company secured $2.8 billion in debt financing in late 2025 alongside its equity raise.reuters

The IPO caps a period of rapid expansion in which Bending Spoons deployed nearly $4.5 billion on acquisitions over three years, transforming itself from a niche Italian app developer into a global digital conglomerate now seeking validation on Wall Street.newnex