Bending Spoons goes public on Nasdaq at over $18 billion valuation

Bending Spoons, a 13-year-old Italian company headquartered in Milan, officially listed on the Nasdaq stock exchange today. The company opened at an over $18 billion valuation, with its stock price increasing by 40% by the close of the market in New York.

The company, co-founded by Luca Ferrari, Francesco Patarnello, Luca Querella, and Matteo Danieli, acquires and transforms companies using technology. Its portfolio of acquisitions includes brands such as Meetup, Eventbrite, Vimeo, and WeTransfer. Danieli, who serves as chief product officer, explained that the firm aims to position itself as an operator that takes beloved brands and makes them much better. Bending Spoons applies a systematic operational playbook to these legacy internet brands, explicitly aiming to minimize the role of luck in growth. In its F-1 filing—the US Securities and Exchange Commission (SEC) registration form required for foreign companies listing on US exchanges—the company noted that while luck is a major factor in finding product-market fit, it is irrelevant when pursuing operational excellence.

According to its SEC filing, the company has driven significant efficiency gains, aided in part by progress in artificial intelligence. This is reflected in its revenue per full-time equivalent employee—a standard unit of measurement for employee workload:

• $1.12 million in 2023
• $2.57 million in 2025
• $0.97 million in Q1 2026

Bending Spoons, which was valued at $11 billion in a private equity round prior to its initial public offering (IPO), plans to continue its acquisition-led strategy. Danieli pointed to the acquisition of Evernote as a key test of this model, noting it was the first acquired product with a highly dedicated user base, meaning the company faced strict judges. Despite initial scrutiny, the company’s updates eventually won over users, receiving praise from subscribers including Evernote co-founder Phil Libin. Danieli noted that lower valuations for Software as a Service (SaaS)—a model where software is licensed on a subscription basis—present a strong environment for acquisitions. “From a buyer’s perspective and as a company that grows through acquisitions, that’s actually a great opportunity and moment to deploy capital,” said Matteo Danieli, co-founder and chief product officer.

Why it matters

Bending Spoons’ IPO validates its strategy of applying operational rigor and artificial intelligence to turn around legacy internet brands. The listing demonstrates that a systematic, data-driven approach to growth can scale even in volatile markets.