- Bending Spoons has filed confidentially for a Nasdaq IPO under the ticker BSP, reportedly targeting a valuation of around $20 billion.
- The Milan-based company was last valued at $11.7 billion after securing $710 million in October 2025, and projects adjusted EBITDA of $1.4 billion in 2026, up from $700 million in 2025.
- The company owns Evernote, WeTransfer, Vimeo, Eventbrite, Meetup, Brightcove, StreamYard, Remini, and AOL.
In 2013, Luca Ferrari and four colleagues were left with $40,000 after their first startup failed. They used it to found Bending Spoons in Copenhagen: no venture capital, no external backing, no runway beyond what they had.
Eleven years later, all four co-founders are billionaires, and the company they built is filing for a US IPO that could value it at $20 billion. That is the story the Nasdaq filing does not tell.
Bending Spoons has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering on the Nasdaq Global Select Market under the ticker BSP. The number of shares and price range have not been disclosed.
The filing comes less than a year after the company secured $710 million at a valuation of $11.7 billion, one of the largest funding rounds ever raised by an Italian technology company. The previous report from TFN suggests the IPO target is around $20 billion.
Goldman Sachs, J.P. Morgan, and Allen & Company are leading the offering alongside a syndicate of global investment banks.
How a mobile app developer became a software conglomerate
Founded in 2013 in Copenhagen by Luca Ferrari, Francesco Patarnello, and Matteo Danieli, Bending Spoons spent its first decade building mobile apps before relocating to Milan in 2014 and pivoting to acquisitions.
The model is now one of the most distinctive in European tech: buy established digital products that larger companies have deprioritised, restructure aggressively, apply AI and data-driven product development, and run them for long-term ownership.
The current portfolio includes Evernote, WeTransfer, Vimeo, Eventbrite, Meetup, Brightcove, StreamYard, Remini, Issuu, komoot, Splice, MileIQ, Tractive, and AOL. Collectively, its services reach over one billion people, with 300 million monthly active users and 10 million paying customers, including most Fortune 500 companies. The company employs approximately 1,000 people.
The restructuring approach is not without controversy. After acquiring WeTransfer, Bending Spoons laid off 75% of its staff. That pattern is the operational mechanism behind the EBITDA projections.
Why the IPO matters
The Nasdaq filing is both a liquidity event and a strategic move. The capital raised could fund further acquisitions at a time when Bending Spoons has become one of the world’s most active software buyers. Total funding to date stands at approximately $1.2 billion, combining $710 million in equity and over €500 million in debt raised in 2025.
The IPO also reflects a broader pattern of elite European tech companies targeting US exchanges over local alternatives, joining Revolut, Klarna, and others that have concluded Nasdaq or NYSE valuations exceed what European markets can support.
Competition
Bending Spoons competes in an increasingly crowded market for software acquisitions.
Tiny, the Canadian technology holding company often described as the Berkshire Hathaway of internet assets, has acquired dozens of software businesses. Constellation Software has built one of the world’s most valuable software portfolios through relentless acquisition and operational rigour.
What distinguishes Bending Spoons is the combination of financial discipline and active product development. It rebuilds products with AI and cuts costs deeply.
Whether public market investors will accept that model, and the governance questions it raises at scale, is the open question the IPO will force.
