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

Italian software powerhouse Bending Spoons is preparing for a massive U.S. initial public offering that could signal a major resurgence in the technology market. The company, which owns high-profile platforms like Vimeo, aims to tap into the growing appetite for large-scale tech listings on American exchanges.

Details of the Landmark Offering

According to sources familiar with the matter, Bending Spoons plans to market 58 million shares at a price range of $26 to $28 per share. If the offering hits the top end of this range, the Milan-based company would command a staggering valuation of $19 billion. The company is expected to sell approximately 60% of the IPO shares, with the remaining 40% being sold by existing shareholders, including prominent investor Baillie Gifford.

The company is targeting an early-July debut on the Nasdaq Global Select Market, where it is expected to trade under the ticker symbol "BSP." The high-profile deal is being led by a heavyweight syndicate including Goldman Sachs Group, JPMorgan Chase, and Allen & Co.

A Rapid Turnaround and Aggressive Acquisition Strategy

Since its founding in 2013, Bending Spoons has carved out a unique niche by acquiring and revitalizing digital businesses. Its portfolio has expanded aggressively, including the video platform Vimeo and file-sharing giant WeTransfer. This year alone, the company has added the internet brand AOL and the ticketing marketplace Eventbrite to its stable of assets.

Financially, the company has demonstrated a remarkable 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 significant leap from the same period last year, when the company reported a net loss of $112.2 million on revenue of $259 million. This growth follows a massive $710 million funding round in late 2024, which had previously valued the company at $11 billion.

Testing the Waters in a Rebounding IPO Market

The Bending Spoons IPO arrives at a critical juncture for the U.S. equity markets. After a prolonged period of stagnation, the IPO window is swinging wide open. According to Dealogic, companies have raised a combined $150 billion through 179 U.S. IPOs so far this year—marking the strongest start to a year since 2021.

However, this listing will serve as a litmus test for investor sentiment regarding software companies. As artificial intelligence continues to reshape business models and intensify competition, investors are becoming increasingly discerning about which software firms can maintain long-term profitability. Bending Spoons’ ability to successfully list will provide vital clues about the future of the sector.

Key Takeaways

  • Massive Valuation: Bending Spoons seeks to raise up to $1.62 billion, aiming for a maximum valuation of $19 billion.
  • Strong Financial Turnaround: The company moved from a $112.2 million net loss last year to a $27.5 million net income in the latest quarter.
  • Strategic Portfolio: The company's aggressive acquisition model includes major names like Vimeo, WeTransfer, AOL, and Eventbrite.