Bending Spoons, a Milan-based company known for acquiring and revitalizing digital apps, has filed for an initial public offering (IPO) in the United States. The company, which owns popular apps like Evernote, WeTransfer, Vimeo, and AOL, is targeting a valuation of approximately $20 billion. This IPO follows a significant funding round in October 2025 where it secured $710 million at an $11.7 billion valuation. The company projects adjusted EBITDA of $1.4 billion in 2026, up from $700 million in 2025.
Founded in 2013 by Luca Ferrari and four colleagues with just $40,000, Bending Spoons has grown into a major player by purchasing established digital products that larger companies have deprioritized. Its strategy involves aggressive restructuring, applying AI and data-driven product development, and converting users to subscription models. The company reported first-quarter 2026 revenue of $601 million, a 132% increase from the same period in 2025, and a net income of $27.5 million, reversing a $112 million net loss in Q1 2025. For the full year 2025, Bending Spoons generated $1.31 billion in revenue.
Bending Spoons has acquired more than 50 companies and digital products. Notable acquisitions include Vimeo for $1.38 billion and Evernote. Following acquisitions, the company implements cost-cutting measures, such as eliminating large portions of the workforce and tightening free features, as seen with Evernote and WeTransfer. The company's unique approach, which focuses on software consolidation and operational efficiency rather than developing a single breakthrough product, distinguishes it from traditional Silicon Valley growth models. Investors in Bending Spoons include Baillie Gifford, Cox Enterprises, and actor Ryan Reynolds.
