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Bending Spoons goes public on Nasdaq

Bending Spoons goes public on Nasdaq

Money Moves

The Italian serial acquirer behind Evernote, WeTransfer, and AOL raises $1.68 billion and gets public-market currency to keep buying

July 1st, 2026: Trading begins on Nasdaq

Overview

Updated Jul 1

Bending Spoons started trading on the Nasdaq on July 1 under the ticker BSP. The Milan company priced its shares at $29, above its target range, and raised about $1.68 billion.

The listing values Bending Spoons at roughly $18.4 billion, up 67% from the $11 billion it was worth in a private round in October 2025. The company buys aging software apps, cuts costs, and raises prices. Now it has public stock to fund the next deals.

Why it matters

The company owns apps millions use daily, including Evernote and WeTransfer. Its playbook: buy, cut staff, raise prices. Public money funds more of it.

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Key Indicators

$1.68B
Raised in IPO
Gross proceeds from the Nasdaq listing at $29 per share.
$18.4B
IPO valuation
Up 67% from the $11 billion private valuation set in October 2025.
$601M
Q1 2026 revenue
More than double the $259 million reported a year earlier.
$4B
Spent on deals since Nov 2025
Acquisition spending, including AOL and Vimeo, ahead of the listing.
50+
Apps owned
Portfolio of acquired software brands the company plans to hold long term.

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People Involved

Organizations Involved

Timeline

January 2013 July 2026

8 events Latest: July 1st, 2026 · 2 months ago
Tap a bar to jump to that date
  1. Trading begins on Nasdaq

    Latest Financial

    Bending Spoons debuts under ticker BSP at an $18.4 billion valuation, up 67% from October.

  2. IPO priced at $29

    Financial

    Shares price at $29, above the $26 to $28 target range, raising about $1.68 billion.

  3. Files to go public

    Regulatory

    The company files for a US initial public offering on the Nasdaq, seeking a valuation near $20 billion.

  4. Eventbrite deal announced

    Acquisition

    Bending Spoons agrees to acquire ticketing platform Eventbrite for roughly $500 million in cash.

  5. Private round at $11 billion

    Funding

    The company raises $710 million from investors including Durable Capital Partners, Baillie Gifford, and T. Rowe Price.

  6. WeTransfer acquired

    Acquisition

    Bending Spoons agrees to buy the Dutch file-transfer service WeTransfer, then cuts about 75% of its staff.

  7. Evernote deal closes

    Acquisition

    The company completes its purchase of the note-taking app Evernote. Layoffs and cuts to the free tier follow.

  8. Bending Spoons founded

    Origin

    Luca Ferrari and three partners start the company with about $40,000 in seed capital.

Scenarios

1

BSP closes 2026 above its IPO price

Possible Resolves by End of 2026

Discussed by: IPO market coverage from Axios, TechFundingNews, and The Next Web

Strong Q1 numbers and a heavily oversubscribed book support the stock in its first months. Public investors keep faith in the buy-and-cut model, and the shares hold above the $29 offer price through year-end. A calm rate environment and no failed integrations would help this hold.

2

Bending Spoons announces another $500M-plus acquisition within a year

Likely Resolves by Jul 1, 2027

Discussed by: TechCrunch and Fortune, which frame the IPO as fuel for more deals

The company says the point of going public is to keep buying. With fresh cash and tradable stock, it lines up another large target from the pool of struggling software brands. A new acquisition of at least $500 million gets announced within twelve months of the listing.

3

BSP falls below IPO price within six months

Uncertain Resolves by Jan 1, 2027

Discussed by: Skeptics of the roll-up model cited in TechCrunch coverage of past layoffs

The market sours on debt-funded acquisitions or on the quality of revenue from repriced apps. User backlash at acquired products like Evernote and WeTransfer weighs on growth expectations. The stock slips and trades below $29 at some point in the first six months.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

May 2006

Constellation Software IPO (2006)

Canadian firm Constellation Software went public in Toronto. Led by Mark Leonard, it buys small vertical-market software companies and holds them forever, rarely selling.

Then

The stock listed quietly and drew little attention outside Canada.

Now

Constellation became one of the best-performing stocks of its era, compounding through hundreds of acquisitions and turning early holders into large gains.

Why this matters now

It is the clearest public template for Bending Spoons' hold-forever, serial-acquirer model, and shows the strategy can reward public investors over years.

2000s

IAC/InterActiveCorp brand roll-up (2000s)

Barry Diller assembled a conglomerate of internet brands including Match, Expedia, and Vimeo, buying and later spinning off properties.

Then

IAC grew into a sprawling owner of consumer web businesses under one public company.

Now

Diller unlocked value mainly by spinning brands out, not holding them, the opposite of Bending Spoons' stated approach.

Why this matters now

IAC shows a rival path for owning many internet brands, and raises the question of whether Bending Spoons can create value by holding rather than spinning off.

2000s to 2010s

Yahoo's acquisition graveyard (2000s-2010s)

Yahoo bought dozens of consumer web companies, including Flickr and Tumblr, then let many decline through neglect and poor integration.

Then

The deals brought users and headlines but little lasting profit.

Now

Yahoo wrote down billions and became a cautionary tale about buying apps faster than you can run them.

Why this matters now

It is the downside case for Bending Spoons: acquiring aging apps can destroy value if cost cuts drive away the users who made the products worth buying.

Sources

(7)