Bending Spoons files for U.S. IPO after revenue doubles to $601M as acquisition strategy pays off

Bending Spoons, the Milan-based software consolidator behind Evernote, Vimeo, WeTransfer, and AOL, is heading to Wall Street after growing revenue 132% and completing more than 50 acquisitions. The company has filed for a U.S. IPO that could value the serial acquirer at around $20 billion.

Most tech companies spend years trying to build the next breakout product. Bending Spoons built a business buying companies that had already lost their shine. Now the Italian software startup is taking that strategy to Wall Street.

Bending Spoons, known for acquiring struggling digital brands and turning them into profitable subscription businesses, has filed for an initial public offering in the United States. The company plans to trade on the New York Stock Exchange under the ticker symbol BSP.

The filing marks a major milestone for one of Europe’s most closely watched technology companies. It arrives at a time when the IPO market is beginning to reopen after a prolonged slowdown and could become one of the largest technology listings from Europe in recent years.

“Bending Spoons, which acquires struggling software businesses, has filed for an initial public offering in New York, joining a string of European tech companies seeking US listings,” Bloomberg reported.

The numbers in the filing help explain investor interest.

Bending Spoons reported first-quarter revenue of $601 million, up 132% from $259 million during the same period a year earlier. The company generated net income of $27.5 million, a sharp turnaround from a net loss of $112 million in the first quarter of 2025.

“The Milan, Italy-based company had net income of $27.5 million on revenue of $601 million for the first three months of 2026, compared with a net loss of $112 million on revenue of $259 million a year earlier, according to its filing Monday with the US Securities and Exchange Commission,” Bloomberg added.

For the full year 2025, Bending Spoons generated approximately $1.31 billion in revenue. Subscriptions account for roughly 84% of its business, providing the company with a recurring revenue engine that many public-market investors favor.

The IPO filing follows a remarkable rise in valuation. Last year, Bending Spoons raised $270 million at a valuation of roughly $11 billion, one day after announcing $2.8 billion in debt financing. Reuters reported in April that the upcoming IPO could value the company at around $20 billion.

Founded in 2013 by CEO Luca Ferrari and a group of fellow engineers, Bending Spoons has become one of the most aggressive software acquirers in Europe. The company operates a playbook that stands apart from the traditional Silicon Valley growth model. Instead of building a large product portfolio from scratch, it buys established software businesses, cuts costs, streamlines operations, and pushes users toward subscription plans.

That approach has produced both praise and criticism.

Over the past several years, Bending Spoons has acquired more than 50 companies and digital products, including AOL, Eventbrite, Vimeo, Komoot, WeTransfer, Evernote, Brightcove, and Hopin.

TechStartups covered the company in September 2025 when it acquired Vimeo in an all-cash deal valued at $1.38 billion, the largest acquisition in Bending Spoons’ history.

Vimeo entered the public market with high expectations after being spun out of IAC in 2021. The company later struggled against YouTube and a growing number of lower-cost video tools, losing nearly 90% of its market value. Bending Spoons stepped in and added the business to its growing software portfolio.

The company’s acquisitions often follow a familiar pattern.

After purchasing Evernote in 2022, Bending Spoons eliminated a large portion of the company’s workforce and tightened access to free features. Following its acquisition of WeTransfer in 2024, the company reduced staff by roughly 75% and introduced new limitations on free users.

Supporters argue the strategy rescues businesses that might otherwise continue losing money or disappear altogether. Critics point to deep workforce reductions and changes to free products that helped attract users in the first place.

Either way, the model has produced results.

Today, Bending Spoons says its applications reach more than 500 million monthly active users, including approximately 9 million paying subscribers.

The company’s investor roster includes Baillie Gifford, Cox Enterprises, Durable Capital Partners, and Fidelity.

The IPO filing lands amid renewed optimism in public markets. Several high-profile technology companies are preparing listings, including SpaceX and Anthropic, as investor appetite for large-scale technology businesses begins to return.

For Wall Street, Bending Spoons offers something different from the typical software story. It is not betting on a single breakthrough product or an AI model. The company is betting that software consolidation can become a repeatable business.

The public markets are about to decide whether that bet deserves a place among the next generation of global technology giants.

Bending Spoons Founders