Milan-based unicorn Bending Spoons is making headlines again, this time for being in advanced talks to acquire AOL for $1.4 billion from Yahoo. The potential deal reflects the company’s appetite for buying established names across media and technology.
While negotiations are ongoing and not yet finalised, the move highlights how Bending Spoons is positioning itself as one of Europe’s most aggressive consolidators in digital media and consumer platforms.
Why this acquisition?
AOL, once a pioneer of the internet era, still carries weight as a recognisable name in digital media. Its parent company, Yahoo, is controlled by Apollo Global Management, which acquired the business in 2021 for $5 billion. Selling AOL could mark another step in Apollo’s strategy of carving out and monetising parts of the Yahoo empire.
For Bending Spoons, securing AOL would add another historic digital property to its expanding stable. While AOL may not command the influence it once did, its brand equity, user base, and digital infrastructure still hold strategic value. If the deal closes, it would represent a rare instance of a European company taking over a once-iconic American internet giant.
Past acquisitions
Founded in 2013 by Luca Ferrari, Francesco Patarnello, Tomasz Greber, Luca Querella, and Matteo Danieli, Bending Spoons has become known for its rapid-fire acquisitions. To date, it has snapped up more than 50 companies, ranging from productivity tools to media platforms.
Just last month, it reached an agreement to acquire US-based Vimeo in a $1.38 billion cash deal. The company has not shied away from buying household names either. Past acquisitions include Komoot, a popular cycling and hiking app; Brightcove, a streaming solutions provider; file-sharing platform WeTransfer; and the productivity staple Evernote. Each deal has allowed Bending Spoons to expand into new verticals, building a portfolio that spans digital content, collaboration, and entertainment.
Its strategy appears to be less about niche bets and more about amassing a wide-ranging ecosystem of digital platforms. This breadth not only diversifies revenue streams but also creates opportunities for cross-platform integration, a move that could deepen user engagement across its network of products.
Fueling growth with financial backing
In August, Bending Spoons secured more than €500 million in debt financing to bankroll future deals. Heavyweight institutions like JPMorgan and Goldman Sachs underwrote the package, signaling strong confidence in the Italian company’s aggressive expansion plan.
That kind of backing reflects Bending Spoons’ growing credibility in global markets.
Looking ahead
Whether the AOL deal goes through or not, Bending Spoons has already signaled its intentions. It is no longer just a European unicorn, it is a rising global player seeking to reshape the digital media landscape through relentless acquisitions.
If successful, acquiring AOL would give the Milanese firm not only a slice of internet history but also a stronger foothold in the US market. Combined with its recent Vimeo deal, it positions Bending Spoons as one of the few European companies capable of competing in billion-dollar tech transactions.
