Milan-based Bending Spoons files for Nasdaq IPO – is Europe losing another tech contender?

Jun 8, 2026 - 21:01

Milan-based startup Bending Spoons has filed for an IPO on the Nasdaq, following a period of notable growth and marking a significant milestone for one of Europe’s most closely watched technology companies.

Investors backing the business include Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity, Endeavor Catalyst and actor Ryan Reynolds. Reuters reported that the listing could value Bending Spoons at around €17 billion ($20 billion), although the company has not confirmed a target valuation.

“We see a vast opportunity ahead. We’ve identified more than 1,000 digital businesses (both private and public) that could be attractive acquisition targets in the future,” Bending Spoons CEO Luca Ferrari wrote in a letter attached to the IPO prospectus.

The IPO filing comes after a period of rapid growth for the Italian company. During 2025, EU-Startups saw Bending Spoons …

Founded in 2013 by CEO Luca Ferrari alongside co-founders Matteo Danieli, Francesco Patarnello and Luca Querella, the company has evolved from a mobile app developer into a major consolidator of digital businesses, building a portfolio that spans some of the internet’s best-known consumer and software brands.

Unlike many European startups that focus on developing a single flagship product, Bending Spoons has built its business around acquiring established digital companies and attempting to improve their performance through operational changes, subscription-based monetisation and technology-driven efficiencies.

Over the past several years, the company has completed more than 50 acquisitions, including notable brands such as Eventbrite, Vimeo, WeTransfer, Evernote, Komoot, AOL, Brightcove and StreamYard.

According to its filing with the U.S. Securities and Exchange Commission (SEC), Bending Spoons generated. €1.13 billion ($1.31 billion) in revenue during 2025, representing substantial growth compared to previous years.

The company reported revenue of €520 million ($601 million) during the first quarter of 2026, an increase of more than 130% compared to the same period a year earlier. Net profit for the quarter reached approximately €23.8 million ($27.5 million), reversing a loss recorded in the corresponding period of 2025.

Subscription revenue continues to underpin the business model. The company disclosed that recurring subscriptions accounted for the overwhelming majority of its revenue, highlighting the growing importance of recurring income streams across digital services and software businesses.

Bending Spoons also reported serving more than 500 million monthly active users across its portfolio in March 2026, including more than 9 million paying customers.

Rather than focusing solely on organic expansion, Bending Spoons typically acquires companies that it believes are underperforming or facing operational challenges. It then implements restructuring measures, introduces new pricing strategies and seeks to improve profitability.

While this approach has delivered strong financial growth, it has also generated debate due to the substantial workforce reductions that have often followed acquisitions.

The company’s prospectus also highlights the growing role of AI within its operations. Bending Spoons stated that AI tools are increasingly being used across software development, customer support, hiring and analytics functions.

The business claims that a large proportion of software code changes are now generated or supported by AI systems, reflecting a broader trend among technology companies seeking productivity gains through automation.

Should the offering proceed as expected, Bending Spoons would become one of the most prominent European technology companies to list in the United States in recent years.

For the broader European startup ecosystem, the listing could serve as another indicator that companies founded on the continent are increasingly capable of reaching global scale.

Whether Bending Spoons can continue its rapid expansion while operating under the scrutiny of public markets remains to be seen, but its Nasdaq ambitions mark another notable chapter in the rise of one of Europe’s most unconventional technology success stories.

The post Milan-based Bending Spoons files for Nasdaq IPO – is Europe losing another tech contender? appeared first on EU-Startups.