Bending Spoons: The Rising Tech Powerhouse Making Waves on Nasdaq
This week, Bending Spoons, the Milan-based technology giant known for its high-profile acquisitions like AOL and Vimeo, made headlines by going public on Nasdaq. The company quickly surged past a market valuation of $25 billion, though it has seen a slight dip since then. Regardless, its current worth is still double its earlier private valuation of $11 billion, showcasing robust investor interest in its diverse portfolio, which includes popular digital platforms like Meetup, Eventbrite, and WeTransfer.
Bending Spoons adopts a strategy reminiscent of private equity but with a vital distinction: the company retains the brands it acquires. Its mission is to enhance their financial performance, often implementing measures like price increases and workforce reductions that have sparked debate among users. Co-founder and Chief Product Officer Matteo Danieli addressed some of the scrutiny, explaining that beloved products like Evernote still maintain a stable customer base, despite the changes.
In just 13 years, Bending Spoons has significantly expanded its user base, boasting over 500 million monthly active users and more than 9 million paying subscribers as of March 2026. This counters the argument that the company targets failing brands, a narrative championed by entrepreneur Joe Hyrkin after selling Issuu to Bending Spoons three years ago. Hyrkin emphasized that Bending Spoons instead focuses on acquiring strong products and then integrates them into its sophisticated operational framework.
The Genesis of Bending Spoons
Bending Spoons has an intriguing origin story. It was formed from the ashes of Evertale, a Copenhagen startup that participated in Disrupt SF 2011’s Startup Alley. After Evertale’s quick demise following the launch of its photo-sharing app, Wink, the founders banded together to create something new—initially building in-house applications before turning to acquisitions.
In a departure from its usual strategy, Bending Spoons created and donated Immuni, Italy’s official COVID-19 contact-tracing app in 2020. Beyond this, the formula has been consistent: identify underperforming yet popular products and improve them from the inside out.
Although Bending Spoons largely remained bootstrapped for years, it later sought equity financing, securing substantial investments in recent years from notable figures such as Eric Schmidt and celebrities like Andre Agassi and The Weeknd.
Life Post-Acquisition
Upon acquiring a brand, Bending Spoons is anything but a passive owner. The company actively modifies features, optimizes tech, and revises monetization strategies, including pricing, while also conducting staff reorganizations. While their strategies overlap with those of private equity firms, they proudly emphasize that they retain ownership of their brands indefinitely, asserting that they’re not just presiding over a vessel of abandoned tech.
Recent Acquisitions and Expansions
Since 2014, Bending Spoons has expanded its portfolio significantly, notably acquiring Filmic in 2022 and Evernote shortly thereafter, although with layoffs following both acquisitions. The first half of 2024 was particularly busy: they added Meetup, the Mosaic Group, and Hopin’s StreamYard to their family of brands.
In mid-2024, they made headlines with the acquisition of Issuu and file transfer service WeTransfer, which led to adjustments in staffing and service offerings. Their recent spree continued with planned acquisitions of Vimeo and AOL, along with Eventbrite, marking a new phase of growth.
The Road Ahead for Bending Spoons
With the IPO now behind them, co-founders Matteo Danieli, Luca Ferrari, Francesco Patarnello, and Luca Querella control over 80% of voting power while enjoying billionaire status, at least on paper. Though they expanded their workforce through acquisitions, numerous positions have already been eliminated, signaling a commitment to refining operations.
Despite a minimal increase in their core team, productivity has surged, with revenue per employee climbing sharply from $1.12 million in 2023 to $2.57 million in 2025. Bending Spoons believes this growth will allow them to seize future acquisition opportunities, especially as the market presents more favorable conditions.
They’re not slowing down anytime soon; Bending Spoons has identified over 1,000 potential digital businesses for future acquisition, poised to pursue deals valued at billions—a significant leap from their initial $10,000 investment for their first acquisition.
As artificial intelligence continues to drive efficiency, the scalability of Bending Spoons’ transformation model stands to improve as well. The coming months promise to be an exciting time for this dynamic tech firm as it navigates the landscape of digital innovation.
This updated narrative sheds light on how Bending Spoons has evolved and where it’s headed, painting a vivid picture of a company that is reshaping the tech industry, one acquisition at a time.