Bending Spoons: Italian Software Company Files For Nasdaq IPO Seeking $20 Billion Valuation

Bending Spoons, the Italian technology company behind brands including AOL, Vimeo, WeTransfer, and Eventbrite, has filed for an initial public offering on the Nasdaq. According to Reuters, the Milan-based company is targeting a valuation of at least $20 billion and is aiming to launch the offering by the end of June. Founded in 2013, Bending Spoons has built a business focused on acquiring and revitalizing digital companies. Earlier this year, the company acquired the internet brand AOL and the ticketing marketplace Eventbrite, adding to a portfolio that also includes the video platform Vimeo and the file-sharing service WeTransfer. CEO Luca Ferrari said in a letter included with the IPO prospectus that the company has identified more than 1,000 private and public digital businesses as potential acquisition targets. The company reported net income of $27.5 million on revenue of $601 million for the quarter ended March 31, compared with a net loss of $112.2 million on revenue of $259 million during the same period a year earlier. Much of Bending Spoons’ revenue comes from recurring subscriptions, providing a stable stream of cash flow. In March, the company’s products served more than 500 million monthly active users and over 9 million paying
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