Bending Spoons Eyes $1.62 Billion US IPO With $19 Billion Valuation

Italian tech powerhouse Bending Spoons is preparing for a massive U.S. initial public offering, aiming to raise up to $1.62 billion. This landmark move could signal a significant resurgence for high-profile software listings in a revitalized American market.

The Details of the Bending Spoons Offering

According to sources familiar with the matter, the Milan-based company plans to market 58 million shares at a price range of $26 to $28 per share. If the offering hits the top of this range, Bending Spoons will command a staggering valuation of $19 billion.

The company is expected to sell approximately 60% of these IPO shares, with the remaining 40% being sold by existing shareholders, including prominent investor Baillie Gifford. The listing is slated for an early-July debut on the Nasdaq Global Select Market under the ticker symbol "BSP." Leading the offering are financial heavyweights Goldman Sachs Group, JPMorgan Chase, and Allen & Co.

A Strategic Turnaround and Aggressive Acquisition Strategy

Founded in 2013, Bending Spoons has built a unique business model centered on acquiring and revamping established software assets. Its growing portfolio includes well-known names such as the video platform Vimeo and the file-sharing service WeTransfer. The company has been on an aggressive expansion streak, recently acquiring the internet brand AOL and the ticketing marketplace Eventbrite.

The financial trajectory of the company shows a dramatic turnaround. In the three months ended March 31, Bending Spoons reported a net income of $27.5 million on revenue of $601 million. This is a sharp contrast to the same period a year ago, when the company reported a net loss of $112.2 million on revenue of $259 million. This shift from heavy losses to profitability will be a critical metric for investors eyeing the IPO.

Testing the Waters in a Rebounding IPO Market

This IPO arrives at a pivotal moment for the U.S. equity markets. After a prolonged period of stagnation, the IPO market has regained significant momentum. According to Dealogic, companies have raised a combined $150 billion through 179 U.S. IPOs so far this year—the strongest start to any year since 2021.

However, the Bending Spoons listing faces a specific challenge: testing investor appetite for the software sector. As artificial intelligence continues to reshape business models and intensify competition, large-scale software IPOs have become relatively rare. The success of this offering will serve as a bellwether for how much confidence investors have in traditional software firms navigating the AI revolution.

Key Takeaways

  • Massive Valuation: Bending Spoons is targeting a $19 billion valuation through a $1.62 billion IPO on the Nasdaq.
  • Financial Turnaround: The company has transitioned from a $112.2 million quarterly loss last year to a $27.5 million net income this year.
  • Market Bellwether: The July debut will test investor sentiment toward software companies in an era dominated by AI-driven disruption.