Bending Spoons Agrees to Acquire Airtable for $2.25 Billion, Valuation Down 80% from 2021 Peak

ChainCatcher report, according to Bloomberg, Italian app developer Bending Spoons SpA has agreed to acquire U.S. software company Airtable for an equity value of $2.25 billion in an all-cash transaction. After deducting Airtable’s net cash of approximately $965 million on its balance sheet, the enterprise value is around $1.29 billion. This price represents an approximately 80% decline from Airtable’s $11.7 billion valuation in 2021, further illustrating the valuation correction in the software industry. Founded in 2013, Airtable provides tools enabling non-technical employees to build customized applications; it raised $735 million in late 2021 at a $11.7 billion valuation but failed to go public within its planned “few years.” Like many software companies, Airtable has struggled to maintain steady growth amid pressure from generative AI tools such as ChatGPT and Claude Code. As of June 2026, Airtable’s annual recurring revenue was approximately $480 million. This marks Bending Spoons’ first acquisition since its Nasdaq listing on July 1, and following the transaction, Airtable will gain resources to advance its AI-native platform. However, its operational model resembles that of private equity firms, typically involving layoffs and restructuring of acquired companies.