Bending Spoons prices IPO above range to raise $1.68B
What's the deal? Bending Spoons, the Milan software group behind Vimeo, WeTransfer, and Evernote, priced its US IPO above range to raise $1.68bn.
The company and existing shareholders, including Baillie Gifford, sold 57.97 million shares at $29 each, topping the marketed $26 to $28 range.
The stock begins trading on the Nasdaq Global Select Market on Wednesday under the ticker "BSP."
Why now? US listings have rebounded this year, and Bending Spoons is one of the larger European names testing that window.
An above-range price suggests a warm reception among institutions that took part in the book-building. It nudges the implied valuation above the roughly $19bn the group targeted.
Founded in 2013, Bending Spoons behaves more like a private-equity firm than a software house. It buys established but underperforming digital products, cuts costs, and runs them at scale.
Its portfolio spans Evernote, MeetupDealroom has a profile for this one. Try Dealroom →, Brightcove, Eventbrite, AOLDealroom has a profile for this one. Try Dealroom →, and route-planner KomootDealroom has a profile for this one. Try Dealroom →. It acquired Vimeo in November 2025 for about $1.38bn.
What could go wrong? The model depends on squeezing profit from acquired products faster than they decline, then financing the next purchase with the returns.
The debt is steep. Bending Spoons carries $4.36bn in borrowing, according to its S-1, and reported a net loss of $112mn on revenue of $259mn in 2025 under one accounting view.
Unlike private-equity firms, it does not exit its investments. It says it has "not sold a material business" to date.
The signal: Revenue rose from $387mn in 2023 to $671mn in 2024, then to $1.31bn in 2025 — a compound annual growth rate near 84%.
Monthly active users hit 500 million by March 2026, up from 111 million in December 2023. Paying customers grew from 3 million to 9 million over the same period.
The choice of New York over a European exchange is part of the story. It echoes a wider drift of continental startups towards deeper US capital markets.
Read more: The Next Web, Bloomberg, Morningstar
