What is Bending Spoons? The little-known AOL and Vimeo owner that’s now public

Bending Spoons, a tech conglomerate based in Milan, has recently made headlines by going public on Nasdaq, achieving a remarkable market capitalization of over $25 billion shortly after its debut. Although the stock has seen a slight decline, it still boasts a market cap that is more than double its previous valuation of $11 billion, illustrating strong investor confidence in its diverse portfolio, which includes notable brands like Meetup, Eventbrite, and WeTransfer. The company's approach resembles that of private equity firms, yet with a significant twist: Bending Spoons retains ownership of the brands it acquires. The firm is committed to enhancing the financial performance of these companies, leveraging technology and artificial intelligence, while also implementing price increases and workforce reductions that have sparked some controversy. Matteo Danieli, co-founder and chief product officer, suggested that the scrutiny stems from the fact that beloved products like Evernote have undergone significant changes since their acquisition. Despite this, he noted that customer retention has remained impressively stable. Since its inception 13 years ago, Bending Spoons has seen substantial growth, particularly in recent years. By March 2026, the company reported that its portfolio serves over 500 million monthly active users, with more than 9 million of them being paying customers. This counters the narrative that Bending Spoons primarily acquires struggling brands, a point entrepreneur Joe Hyrkin has been vocal about since selling his platform Issuu to the company in 2024. Hyrkin argued that Bending Spoons focuses on products with genuine user engagement and integrates them into a robust operational framework. Bending Spoons has demonstrated significant financial success, reporting $1.31 billion in revenue for 2025, with investors anticipating further growth. The company's origins trace back to Evertale, a failed startup from Copenhagen that attempted to launch a photo-sharing app called Wink. After Evertale's collapse, its founders and some employees continued to innovate, eventually leading to Bending Spoons' first acquisition and a series of strategic purchases over the years. In 2020, the firm diverged from its usual acquisition strategy to develop and donate Immuni, Italy's official COVID-19 contact-tracing app. However, its primary strategy revolves around acquiring successful products that can be improved. While traditionally at odds with venture capital practices, Bending Spoons eventually attracted equity financing in multiple rounds between 2022 and 2025, gaining high-profile investors, including tech luminaries and celebrities. After acquiring several companies, including the AI-powered photo enhancer Remini, Bending Spoons made headlines with its recent acquisitions of Evernote and Filmic, both of which involved significant layoffs post-acquisition. The firm has also expanded its reach by acquiring platforms like Meetup and Issuu, and plans to acquire Vimeo and AOL for substantial sums. Though these acquisitions have added thousands of employees to Bending Spoons, the company has already begun downsizing as it reshapes these businesses. The leadership team, comprised of the original four co-founders, has retained a significant level of control following the IPO, and their decisions will undoubtedly impact the workforce moving forward. As the restructuring progresses, the company anticipates a reduction in headcount while simultaneously increasing productivity, thanks in part to advancements in AI. Bending Spoons believes the current climate of uncertainty presents opportunities for strategic acquisitions at more favorable valuations. The firm has identified over 1,000 potential acquisition targets, representing a potential revenue of nearly $400 billion. As the company continues to evolve, CEO Luca Ferrari predicts that AI will allow for greater scalability of their acquisition and transformation model, indicating that the future may hold even more aggressive expansion plans.