Bending Spoons sets its IPO price at a maximum of $1.62 billion, aiming for a Nasdaq valuation of $19 billion.

Bending Spoons sets its IPO price at a maximum of $1.62 billion, aiming for a Nasdaq valuation of $19 billion.

      Bending Spoons is setting the price for its US IPO between $26 and $28 per share, aiming to raise as much as $1.62 billion at a valuation of $19 billion with a debut in early July. The Italian software firm focuses on acquiring and restructuring digital businesses and plans to offer 58 million shares on Nasdaq under the ticker BSP.

      If the shares reach the upper end of the price range, Bending Spoons would be valued at approximately $19 billion, a significant increase from the $11 billion pre-money valuation it achieved when raising $710 million in late 2025 with investment from T. Rowe Price, Baillie Gifford, Fidelity, and Durable Capital Partners.

      Approximately 60% of the IPO shares will come from the company as primary stock, while the remainder will be sold by existing shareholders, including Baillie Gifford. Goldman Sachs, JPMorgan Chase, and Allen & Co are leading the offering.

      This listing could potentially be one of the largest IPOs by a European company this year and represents a unique public market opportunity for a significant software firm amid shifts in business models driven by artificial intelligence. BNP Paribas has suggested that the surge of mega-IPOs in the US from companies like SpaceX, OpenAI, and Anthropic may encourage European tech firms to pursue public listings, with Bending Spoons exemplifying this trend.

      Founded in Milan in 2013 by CEO Luca Ferrari and four co-founders with roughly $40,000 in initial funding, Bending Spoons has adopted an aggressive acquisition strategy akin to private equity rather than traditional software development. The company acquires struggling digital products, reduces costs, refurbishes the technology, and operates at scale.

      Its portfolio includes notable acquisitions such as the video platform Vimeo for $1.38 billion last year, file-sharing service WeTransfer, AOL, ticketing marketplace Eventbrite, note-taking app Evernote, outdoor navigation tool Komoot, and pet tracker Tractive. These acquisitions are typically followed by significant workforce reductions, often cutting employee numbers by 70% or more.

      This approach has led to rapid revenue growth, with annual revenue increasing from $387 million in 2023 to $671 million in 2024 and reaching $1.31 billion in 2025, representing a compound annual growth rate of 84%.

      Results for the first quarter of 2026 indicate profitability, with Bending Spoons reporting approximately $28 million in net income on revenues of $601 million, in contrast to a net loss of $112 million on revenues of $259 million during the same period the previous year.

      The IPO comes at a time when the US market has regained momentum following a prolonged slowdown, with companies raising a total of $150 billion through 179 IPOs so far this year, marking the strongest start since 2021, according to Dealogic. The recent record debut of SpaceX and the listing of Cerebras Systems highlight a renewed interest in prominent technology offerings.

      For European tech firms, Bending Spoons' listing reinforces a trend: the continent's largest tech companies often opt for US exchanges due to better capital access and higher valuations. Ferrari's stake in the company is estimated to be worth $1.4 billion, a value created through a strategy not widely employed in European venture capital a decade ago.

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Bending Spoons sets its IPO price at a maximum of $1.62 billion, aiming for a Nasdaq valuation of $19 billion.

Bending Spoons plans to sell 58 million shares priced between $26 and $28 each, aiming for a debut on the Nasdaq in early July with a valuation of $19 billion, according to Reuters.