Bending Spoons: The Invisible Tech Titan Taking the Digital World by Storm
In an impressive turn of events, the founders of Bending Spoons reached billionaire status this week, marking a significant milestone in the tech landscape. CEO Luca Ferrari’s stake in the Milan-headquartered tech powerhouse has skyrocketed to an estimated value of $1.4 billion. Meanwhile, co-founders Matteo Danieli, Luca Querella, and Francesco Patarnello each boast stakes worth around $1.3 billion, as noted by Forbes through analysis of shareholder data from the Italian Business Register.
This surge in valuation follows Bending Spoons’ recent fundraising triumph, where it raised $270 million from a cadre of investors, including T. Rowe Price, along with existing supporters such as Baillie Gifford and Fidelity. Additionally, a remarkable $440 million was generated from a secondary share sale among current shareholders. However, it remains uncertain if any co-founders cashed in on stock during this transaction, as Bending Spoons has refrained from commenting on their stakes.
Despite its intriguing name, Bending Spoons has managed to fly under the radar for most of its existence. The 12-year-old company only attracts media attention during significant acquisitions—such as its recent agreement to acquire AOL for an undisclosed sum. Unlike a traditional private equity firm, Bending Spoons focuses on breathing new life into popular yet underperforming tech brands, striving to serve millions of users more effectively.
Bending Spoons often captures headlines when it restructures acquired entities, which may include substantial layoffs or contentious alterations to beloved products—take its aggressive strategies with Evernote and WeTransfer as prime examples. While the company itself remains somewhat obscure, its wide array of products has reached over one billion users, boasting an impressive monthly active user count of over 300 million, including 10 million paying customers.
A Glimpse into Bending Spoons’ Genesis
What exactly is Bending Spoons? Describing itself as an acquirer and transformer of digital businesses, the company has grown to a team of about 400 to 500 “Spooners.” Interestingly, its inception story traces back to Evertale, a Copenhagen-based startup that struggled despite initial promise. After Evertale’s ultimate failure, its founders pivoted from in-house app development to acquisitions. CEO Luca Ferrari revealed in a podcast that this pivot became the heartbeat of Bending Spoons.
Although Bending Spoons stepped outside its usual operations during the pandemic to create Immuni, Italy’s official COVID-19 contact tracing app, its primary approach remains focused on acquiring popular products and enhancing them from the inside out. The goal is clear: identify growth potential in stagnant ventures and revitalize them to swift profitability.
Bending Spoons actually enhances the businesses it acquires—not content with merely holding assets. Their hands-on approach transforms every aspect of newly acquired products, from user experience and technology to team structure and pricing models. Unlike typical private equity firms, Bending Spoons seeks to hold onto its acquisitions indefinitely, accumulating a vibrant portfolio rather than curating a graveyard of defunct businesses.
The Company’s Acquisition Trail
Bending Spoons has made strategic acquisitions since 2014, with an uptick in prominent deals in recent years. It purchased the popular video and photo-editing application Filmic in 2022, only to lay off all of its staff shortly after. Another notable acquisition was Evernote, which had once soared to a $1 billion valuation before its decline, resulting in layoffs and service changes post-acquisition.
2024 emerged as a whirlwind year for further deals, with Bending Spoons acquiring community-building platform Meetup and several others, including StreamYard from Hopin and the digital publishing platform Issuu. Cutting staff and amending the free offerings of these acquisitions has become part of a distinct operating pattern for Bending Spoons, with ongoing transactions that highlight its relentless pursuit of growth.
Currently, Bending Spoons is one of the rare tech giants—or decacorns—valued at over $10 billion in Europe, completing a remarkable ascent from its bootstrapped origins. With secured funding to pursue further acquisitions, it is poised for significant expansions, targeting high-profile brands.
What Lies Ahead?
Looking to the future, Bending Spoons is gearing up to continue its acquisition strategy, eyeing more distinguished targets like AOL and Vimeo, which already carry significant name recognition. Their upcoming deals promise to further expand Bending Spoons’ influence in the tech space.
With plans to enhance its workforce, the company has called for new talent, hinting at a burgeoning environment where innovation meets demand. Despite a stated need for strong work ethic from potential hires, the rising company witnessed more than 600,000 job applications pour in thus far in 2025.
As Bending Spoons charts its course through the digital landscape, it has established itself as a transformative force capable of reshaping iconic brands while paving its road to unprecedented success.