What is Bending Spoons? Everything to know about AOL’s acquirer

This week, the cofounders of Bending Spoons achieved billionaire status, with CEO Luca Ferrari's stake valued at approximately $1.4 billion. His fellow cofounders, Matteo Danieli, Luca Querella, and Francesco Patarnello, each hold stakes worth around $1.3 billion, according to estimates from Forbes based on shareholder information from the Italian Business Register. These valuations follow a significant funding round where Bending Spoons secured $270 million from notable investors such as T. Rowe Price, Baillie Gifford, and Fidelity, alongside a $440 million secondary share sale. The company has not disclosed whether any cofounders participated in this secondary transaction. Despite its catchy name, Bending Spoons has often operated under the radar, gaining attention primarily when it adds well-known brands to its portfolio, like its recent acquisition of AOL. Bending Spoons distinguishes itself from traditional private equity firms by focusing on acquiring underperforming yet popular tech brands and revitalizing them for millions of users. The firm often makes headlines for restructuring acquired companies, which can involve layoffs or controversial product changes, as seen with brands like Evernote and WeTransfer. Despite serving over a billion users and maintaining a significant monthly active user base of 300 million, Bending Spoons has remained relatively unknown. Founded by a team that originally attempted to create their own apps, Bending Spoons has evolved into a company that specializes in acquiring and enhancing digital businesses. Initially, the founders had a different vision, but after the collapse of their earlier venture, Evertale, they pivoted to focus on acquisitions, starting with their first in-house app. One significant example of their impact came in 2020, when Bending Spoons developed Immuni, Italy’s official COVID-19 contact tracing app. While the firm has a formula for identifying popular products to improve, it does not merely sit back post-acquisition; it actively transforms user experiences and monetization strategies. Bending Spoons claims to hold onto its acquisitions indefinitely, contrasting with typical private equity strategies, and has never sold an acquired business. Many of their targets, while not necessarily failing, tend to be stagnant or neglected brands. Recent acquisitions include Filmic, Evernote, and Meetup, with significant layoffs often following these deals. In 2024, Bending Spoons further expanded its portfolio with the acquisition of Issuu and WeTransfer, both of which also faced staff reductions and changes to their free offerings. Looking ahead, Bending Spoons has plans to acquire Vimeo in a $1.38 billion cash deal and is finalizing its acquisition of AOL, which boasts 8 million daily and 30 million monthly active users. With a valuation exceeding $2.8 billion post its latest funding, Bending Spoons is now recognized as one of Europe’s rare tech decacorns. The company's ambitious strategy will continue to focus on acquiring digital brands while enhancing its proprietary technology and AI capabilities, supported by substantial new funding. As Bending Spoons seeks to grow its portfolio, it remains a hot topic in the tech industry, attracting significant attention and job applications—over 600,000 in 2025 alone—as it expands its team to support its ambitious acquisition strategy.