Bending Spoons, the Italian app company that acquired Eventbrite, Vimeo, and WeTransfer, has filed for an IPO with the U.S. Securities and Exchange Commission. The company disclosed that its app portfolio boasts over 500 million monthly active users and approximately 9 million paying users, and has rapidly expanded its business through a series of acquisitions in recent years.
Disclosure of revenue and profit data
According to its prospectus, Bending Spoons' revenue in 2025 was $1.31 billion. Revenue for the first quarter of 2026 was $601 million, representing a year-over-year increase of 132%. Net profit for the same period was $27.4 million.
The company stated that subscriptions are its primary revenue source, accounting for 84% of total revenue. This means that its business model is highly dependent on repeat paying users, rather than one-time downloads or advertising revenue.
Completed multiple acquisitions in the past few years
To date, Bending Spoons has completed more than 50 acquisitions, involving many well-known internet products and media assets.
- Eventbrite
- Vimeo
- WeTransfer
In addition, the company has acquired assets such as Evernote, Brightcove, Komoot, and AOL. Its expansion strategy is not to build a single blockbuster app, but to take over mature but struggling products, and then integrate and commercialize them.
Valuation and shareholders are under scrutiny.
The company was valued at approximately $11 billion when it raised funds last year, up from $2.8 billion in 2024. Reuters reported in April that the company was seeking a valuation of up to $20 billion in its IPO.
Among the existing shareholders, Baillie Gifford holds a significant stake, while Cox Enterprises, Durable Capital Partners, and Fidelity are also among the investors.
Bending Spoons' typical approach has been to acquire underperforming internet products, then downsize their teams and improve profitability by adjusting subscription plans. This model has helped the company rapidly expand its revenue and will be one of its most closely watched business strategies since its IPO.
Additional information:TechCrunch reported that Bending Spoons, along with SpaceX, Anthropic, and other companies preparing to go public this summer, has become one of the tech companies attracting attention in the recent US IPO market.
