The Rise of Milan-based Startup Bending Spoons: A Closer Look at Their IPO Filing on Nasdaq

Milan-based startup Bending Spoons has recently made headlines by filing for an IPO on the Nasdaq, signaling a significant milestone for one of Europe’s most prominent technology companies. The move comes after a period of remarkable growth, attracting the attention of investors such as Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity, Endeavor Catalyst, and even actor Ryan Reynolds.

Reports suggest that the IPO could value Bending Spoons at around €17 billion ($20 billion), although the company has not officially confirmed a target valuation. In a letter attached to the IPO prospectus, CEO Luca Ferrari expressed optimism about the future, highlighting the company’s potential for growth and expansion.

Founded in 2013 by Luca Ferrari and co-founders Matteo Danieli, Francesco Patarnello, and Luca Querella, Bending Spoons has transformed from a mobile app developer into a major player in the digital business landscape. Their strategy revolves around acquiring established digital companies and enhancing their performance through operational changes, subscription-based monetization, and technology-driven efficiencies.

Unlike many European startups that focus on a single flagship product, Bending Spoons has built a diverse portfolio by acquiring brands such as Eventbrite, Vimeo, WeTransfer, Evernote, Komoot, AOL, Brightcove, and StreamYard. This approach has proven successful, with the company reporting significant revenue growth in recent years.

According to their filing with the U.S. Securities and Exchange Commission (SEC), Bending Spoons generated €1.13 billion ($1.31 billion) in revenue in 2025, showcasing a substantial increase compared to previous years. The company’s revenue for the first quarter of 2026 reached €520 million ($601 million), marking a remarkable 130% growth from the same period in the previous year.

Subscription revenue plays a key role in Bending Spoons’ business model, with recurring subscriptions accounting for the majority of their income. The company disclosed that they serve over 500 million monthly active users across their portfolio, including more than 9 million paying customers.

The Role of AI and Expansion Strategies

Bending Spoons’ operations are increasingly driven by AI tools, which are utilized in software development, customer support, hiring, and analytics. The company emphasizes the efficiency gains achieved through automation, with AI systems playing a significant role in software code changes and operational functions.

In addition to AI integration, Bending Spoons focuses on acquiring underperforming companies and implementing restructuring measures to improve profitability. While this strategy has led to substantial financial growth, it has also sparked debate due to workforce reductions following acquisitions.

Future Outlook and Market Impact

If the IPO proceeds as planned, Bending Spoons will join the ranks of prominent European technology companies listing in the United States. The move could signal further global expansion for European startups and demonstrate their ability to achieve significant scale.

As Bending Spoons navigates the challenges of operating under public scrutiny, their Nasdaq ambitions mark a significant chapter in the success story of one of Europe’s most unconventional technology companies. The company’s innovative strategies, focus on acquisitions, and commitment to AI integration position them for continued growth and success in the competitive digital landscape.