Bending Spoons

Bending Spoons IPO: Acquirer of AOL and Vimeo Goes Public

Milan-based Bending Spoons went public on the Nasdaq in early July 2026, briefly reaching a market capitalization above $25 billion, roughly double its prior private valuation. The company has built a portfolio of well-known digital brands — including Vimeo, AOL, Meetup, Eventbrite and WeTransfer — and reported $1.31 billion in revenue for 2025. Bending Spoons pursues an acquisition-led growth strategy described as PE-like but with an intention to hold and transform assets, often applying tech and AI alongside pricing and headcount changes that have drawn criticism. As of March 2026 the group said its portfolio served over 500 million monthly active users and more than 9 million monthly paying customers. Founders retain control of voting power and the company signals continued acquisitiveness backed by substantial operational centralization.

Bending Spoons IPO Tests Buy‑Gut‑Hold Strategy

This analysis examines Bending Spoons’ serial-acquirer strategy—buy, cut, raise prices, and “hold forever”—in the context of its recent US IPO. The company has acquired roughly 50 businesses (Evernote, Vimeo, WeTransfer, Eventbrite, AOL among them) and reported rapid headline growth (revenue from $387M in 2023 to $1.31B in 2025) and high margins. Much of that growth was acquisition-driven: organic revenue growth was ~13% in 2025 (7% in 2024), blended net revenue retention is 94%, and capital deployed on deals jumped from $194M in 2023 to $2.01B in Q1 2026. Large purchases include Vimeo ($1.38B) and AOL ($1.45B); the IPO priced above its reference range and finished its first trading day with a multibillion-dollar valuation. The piece questions whether the model is durable in an AI-driven era and whether the public markets are correctly valuing a highly levered, consumer-exposed rollup.

Tech Investors Face Summer AI Market Uncertainty

Rising valuations, volatile markets and political backlash are creating a nervous environment for tech and AI investors this summer. The piece highlights bubble warnings from the Bank for International Settlements, increased margin trading, and concerns from prominent investors and executives. Several specific developments are noted: Amazon dropped distribution of an almost-completed OpenAI movie (Neon has since acquired it); Together AI and German drone maker Quantum Systems raised major funding rounds; OpenAI has discussed donating a 5% stake to a U.S. sovereign fund; Meta and xAI are entering the business of selling compute; and Anthropic’s co-founder Tom Brown reportedly brokered a truce with the U.S. government. The article also flags growing political risk around data centers, the persistence of FOMO among investors, and continued strong revenue growth at leading AI firms.