Bending Spoons, the Milan-based software group that owns products like Vimeo, WeTransfer, and Evernote, has successfully priced its US initial public offering above its marketed range, raising $1.68 billion. The company and existing shareholders sold 57.97 million shares at $29 each, surpassing the previously targeted range of $26 to $28. This strong demand positions it as one of Europe's largest listings of the year. The shares began trading on the Nasdaq Global Select Market on Wednesday under the ticker "BSP". The IPO valued Bending Spoons at approximately $18.4 billion, a significant increase from the targeted $19 billion at the lower end of the initial range. This also represents a substantial jump from its $11 billion valuation just eight months prior, reflecting a 67% increase.
Bending Spoons operates more like a private-equity firm, acquiring established but underperforming digital products, optimizing their costs, and scaling them. This roll-up strategy, largely financed through debt and private capital, relies on acquiring products faster than they decline and using returns for subsequent purchases. The company's financial performance leading up to the IPO was impressive, with revenue rising from $387 million in 2023 to $671 million in 2024, and then to $1.31 billion in 2025, demonstrating a compound annual growth rate of around 84%. Furthermore, Bending Spoons reported a significant first-quarter 2026 revenue of $601 million, more than doubling the $259 million from the same period in 2025, and swinging from a $112 million net loss to a $27.5 million net profit.
The successful float provides Bending Spoons with public currency for future acquisitions, which is crucial for its strategy. It also offers early backers a liquidity event. The above-range pricing indicates a warm reception from institutional investors during book-building. The company announced plans to target more than 1,000 businesses for future acquisitions. Despite a dual-class share structure that allows founders to retain voting control, its profitability, active user base of 500 million monthly users (including over 9 million monthly paying customers), and strong growth trajectory seem to have convinced investors. The IPO is seen as a significant moment for European tech companies considering US listings.
