Bending Spoons, the Milan-based developer behind popular applications like Vimeo, Evernote, and AOL, officially filed for an initial public offering (IPO) in the United States. This move positions the company among a number of European tech firms looking to list on U.S. exchanges. According to its SEC filing, Bending Spoons generated a net income of $27.5 million on $601 million in revenue for the first quarter of 2026. This marks a significant improvement from the same period a year prior, when the company experienced a net loss of $112 million on $259 million in revenue.
The company's revenue in Q1 2026 represents a 132% year-on-year increase, with subscriptions accounting for 84% of its business. Bending Spoons boasts over 500 million monthly active users across its apps and serves 9 million paying customers. The firm has a history of acquiring businesses and transforming them, with more than 50 acquisitions to date, including major brands like Eventbrite, WeTransfer, Komoot, and Brightcove. In 2025, the company reported a net loss of $112 million on full-year revenue of $259 million.
Bending Spoons was valued at $11 billion in an October 2025 funding round. Reports from Reuters in April suggested the IPO could target a $20 billion valuation. Investment firms such as Baillie Gifford, Cox Enterprises, Durable Capital Partners, and Fidelity are among its notable backers. Goldman Sachs, J.P. Morgan, and Allen & Co will serve as joint lead bookrunning managers for the listing on the Nasdaq under the ticker symbol "BSP." The CEO, Luca Ferrari, noted in the prospectus that the company sees opportunities in over 1,000 potential acquisition targets in the future.
As of March 2026, the company's monthly active users had surged to 500 million, an increase from 111 million in December 2023, while paying customers grew from 3 million to 9 million in the same period. This growth aligns with its aggressive acquisition strategy, which included acquiring Eventbrite, AOL, and Vimeo in quick succession last year, and more recently, the GPS pet tracking startup Tractive in March. The company has accumulated $4.36 billion in debt from its acquisition spree.
The U.S. IPO market is experiencing a busy summer, with Bending Spoons joining other anticipated listings like SpaceX and Anthropic. This trend reflects foreign firms' preference for U.S. listings, where technology companies often achieve higher valuations. Renaissance Capital's senior strategist, Matt Kennedy, commented on the active pipeline, noting that companies are keen to list before potential market volatility impacts the window for IPOs.
