How Bending Spoons built a $23bn tech empire from struggling brands
Bending Spoons built its $23 billion tech empire by buying aging but recognizable software brands, cutting costs aggressively, adding new features, and pushing pricing and subscriptions to improve profitability. Its model is closer to long-term ownership than classic private equity, since it does not plan to flip the businesses quickly.
Quick Scoop
The FT-linked coverage says the company’s Nasdaq debut sent shares up about 40%, briefly valuing it above $25 billion and turning its founders and Ferrari into billionaires. It has grown by acquiring brands like AOL, Eventbrite, Evernote, Meetup, and Vimeo, then restructuring them to generate better earnings.
How It Works
- It targets struggling digital businesses with established users and brand awareness.
- It trims costs and simplifies operations after acquisition.
- It adds product improvements and monetization changes, including subscription-focused pricing.
- It keeps the businesses rather than planning a fast resale, which sets it apart from traditional buyout firms.
Why It Stands Out
This is being framed as a major European tech story, especially because the company is based in Milan and has become one of the region’s most valuable software groups. The narrative around it is also unusual: instead of building one breakout app, it has assembled value by repeatedly reviving brands other people had written off.
Market Reaction
The recent IPO story has helped push the company into the spotlight, with reporting that it raised $1.68 billion and that its disclosed financials showed a sharp swing into profit. That combination of growth, profitability, and a large debut valuation is why the coverage has described it as a $23 billion tech empire.
TLDR
Bending Spoons’ playbook is simple but ruthless: buy neglected software brands, fix the economics, and hold them for the long run. That strategy has turned a relatively obscure Milan-based company into one of the most closely watched tech stories of 2026.