Italian app company Bending Spoons, which has 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 has over 500 million monthly active users and approximately 9 million paying users, having rapidly expanded its business scale through consecutive acquisitions in recent years.
Disclose revenue and profit data
The prospectus shows that Bending Spoons generated $1.31 billion in revenue in 2025. Revenue for the first quarter of 2026 was $601 million, representing a 132% year-over-year increase. Net profit during the same period was $27.4 million.
The company stated that subscription services are the primary source of revenue, accounting for 84% of total revenue. This means its business model heavily relies on recurring paying users rather than one-time downloads or advertising income.
Completed multiple acquisitions over the past few years.
To date, Bending Spoons has completed over 50 acquisitions, encompassing numerous 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 has not been to build a single breakout app from scratch, but rather to acquire mature products under financial pressure and then integrate and restructure them for commercial success.
Valuation and shareholders are receiving attention.
The company was valued at approximately $11 billion during its last funding round, higher than $2.8 billion in 2024. In April this year, Reuters reported that the company may seek a valuation of up to $20 billion in its IPO.
Among existing shareholders, Baillie Gifford holds a significant stake, and other institutions such as Cox Enterprises, Durable Capital Partners, and Fidelity are also on the investor list.
Bending Spoons's traditional approach has been to acquire underperforming internet products, reduce team sizes, and increase profitability by adjusting subscription models. This strategy helped the company rapidly scale its revenue and has become one of the most closely watched business practices since its public listing.
Additional information: TechCrunch reported that Bending Spoons is among the tech companies recently drawing attention in the U.S. IPO market, alongside firms such as SpaceX and Anthropic, which are preparing to go public this summer.