Bending Spoons prices IPO above range, raises $1.62B in largest European tech listing
In brief
- Bending Spoons raised $1.62B in Nasdaq IPO priced above the $26-$28 range
- Milan-based acquirer valued near $20 billion, largest European tech IPO recently
- Q1 2026 revenue reached $601M, up 132% year-over-year from $259M
- Portfolio includes Evernote, Vimeo, AOL, Eventbrite across 50+ acquisitions
- Class A shares carry 5x voting rights, ensuring co-founder control
The acquisition playbook
Bending Spoons doesn't build products from scratch. It buys them. The company's entire strategy centers on acquiring underperforming digital businesses, stripping them down, and optimizing them for profitability. This approach has yielded a sprawling portfolio that includes Evernote, Vimeo, AOL, and Eventbrite—names that span productivity, video hosting, legacy media, and events. Across more than 50 acquisitions, Bending Spoons has assembled a user base of over 400 to 500 million monthly active users.
IPO details and demand signals
The IPO was structured with around 58 million shares, split roughly 60% new primary shares and 40% secondary offerings. Goldman Sachs and JPMorgan led the underwriting. The company will trade on Nasdaq under the ticker BSP.
Pricing above range is a clear signal of demand. In a year where several high-profile IPOs have struggled to generate enthusiasm, Bending Spoons managed to convince institutional investors to pay more than the initial ask. The shares priced above the marketed range of $26 to $28 per share.
Financial momentum and governance
The company's financials underscore why investors showed up. Bending Spoons reported Q1 2026 revenue of $601 million, up from $259 million in Q1 2025—a 132% year-over-year increase. The company posted net income of $27.5 million for Q1 2026, demonstrating that the acquisition-and-optimize model can generate real profitability.
One structural detail matters for long-term investors. Bending Spoons' Class A shares carry 5x voting rights, effectively giving co-founders outsized control over corporate decisions. This dual-class structure is common among founder-led tech firms but limits minority shareholder influence on strategy and capital allocation.
