Bending Spoons, an innovative startup from Milan, has tapped major banks like Goldman Sachs, JPMorgan, Bank of America, BNP Paribas, Allen & Co, and Jefferies to guide its potential initial public offering (IPO) in the U.S. The company is aiming for a staggering valuation of $20 billion, as reported by Reuters.
The IPO could happen as soon as this summer, depending on how the market performs in the coming months.
Bending Spoons, led by CEO Luca Ferrari, operates differently than typical software firms. It resembles a private equity company that focuses on technology. The firm specializes in acquiring struggling digital platforms, restructuring them, and managing them to work together successfully.
In October, Goldman Sachs assisted Bending Spoons in raising $710 million in equity, giving it an $11.7 billion valuation. The new target of $20 billion reflects an impressive 80% increase in less than a year.
The company is optimistic about its financial future, forecasting an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $1.4 billion by 2026, significantly up from $700 million in 2025. This growth is spurred by recent acquisitions. Bending Spoons currently serves over one billion people, with 300 million monthly users and 10 million paying customers, including several Fortune 500 companies.
The startup has expanded its reach by acquiring various companies, including Vimeo, WeTransfer, Evernote, Eventbrite, and even AOL—once considered out of the running. Its clear strategy is to acquire undervalued assets, apply its operational model, and demonstrate that these platforms can still turn a profit.
A successful $20 billion IPO would position Bending Spoons as one of the largest tech listings from Europe recently, showcasing that a Milan-based company focused on acquiring and revamping digital assets can achieve high valuations on Wall Street.
