Bending Spoons goes public: Milan-based tech conglomerate with a massive acquisition strategy
Bending Spoons, the Milan-based tech conglomerate known for acquiring AOL, Vimeo, and other digital brands, recently went public on the Nasdaq. Its aggressive acquisition strategy, which often involves layoffs and price increases, has drawn both controversy and investor interest.
Bending Spoons, the Milan-based tech conglomerate behind the acquisitions of AOL, Vimeo, Eventbrite, and other well-known digital brands, made its Nasdaq debut this week. The company's stock initially surged, briefly pushing its market capitalization above $25 billion. While it has since slipped, the valuation remains roughly double its previous private valuation of $11 billion, reflecting strong investor appetite for its playbook.
The company’s strategy resembles private equity but with a key difference: it retains the brands it buys and focuses on making them more profitable through technology, AI, and often through price hikes and layoffs — a controversial approach. Co-founder Matteo Danieli acknowledged that some criticism stems from the love users have for products like Evernote, but he noted that customer retention has been "remarkably stable."
Bending Spoons originated from the ashes of Copenhagen-based startup Evertale, which failed after participating in Disrupt SF 2011. The founders continued, making their first acquisition soon after. Over the years, the company has perfected a formula: acquire popular digital products from owners who have hit a ceiling, then improve them.
Notable deals include Evernote (2022/2023), followed by layoffs and free-tier cuts; Meetup, Mosaic Group, and StreamYard (2024); Issuu and WeTransfer (2024); Brightcove (2024, $233 million); Komoot and Harvest (2025); Vimeo (2025, $1.38 billion); AOL (from Yahoo, 2026, undisclosed); Eventbrite (2025, ~$500 million); and Tractive (2026). Post-acquisition, the company often reduces headcount — after Vimeo, it laid off most of the workforce, including the entire video team. WeTransfer co-founder Nalden publicly criticized the changes and announced he is building a new file-transfer service.
The four co-founders — Matteo Danieli, Luca Ferrari, Francesco Patarnello, and Luca Querella — became billionaires after the IPO and retain over 80% of voting power. The company added 1,830 full-time employees through its latest acquisitions but has already parted ways with many, expecting only a few hundred to remain by late 2026. In contrast, its core "Spooners" team, selected through a rigorous hiring process, numbers around 620 and has seen revenue per employee rise from $1.12 million in 2023 to $2.57 million in 2025.
Looking ahead, Bending Spoons has identified over 1,000 potential acquisition targets with combined estimated revenue of nearly $400 billion. CEO Luca Ferrari believes AI will further enhance the company’s ability to scale its acquisition and transformation model.
