Bending Spoons, Owner of Vimeo, Plans $1.62 Billion IPO in the U.S., Sources Reveal

Bending Spoons, an Italian technology firm renowned for its strategy of acquiring and revitalizing software companies, is poised to enter the U.S. public market with an initial public offering (IPO) that could raise as much as $1.62 billion. This IPO could mark one of the largest by a European technology company this year and stands out as a significant event in a sector that has seen limited large-scale listings recently. With an anticipated price range of $26 to $28 per share for 58 million shares, the upper valuation may place Bending Spoons at approximately $19 billion, contingent upon its market performance during the listing.

Sixty percent of the shares in this offering will be directly from the company, while the remaining 40% will be sold by existing stakeholders, including notable investors such as Baillie Gifford. This listing is expected to debut around early July, amid a resurgence in U.S. IPO activity, following a period of stagnation. Noteworthy IPOs this year, including SpaceX, highlight a renewed interest from investors in technology offerings, with the broader market raising $150 billion through 179 U.S. IPOs thus far, marking the most robust year to start since 2021.

From a financial performance perspective, Bending Spoons has demonstrated a significant turnaround, reporting a net income of $27.5 million on revenue of $601 million for the first quarter ending March 31. This is in sharp contrast to the prior year’s net loss of $112.2 million on revenue of $259 million, suggesting a robust operational transition and an ability to capture market share effectively. As the company continues to expand its portfolio—recently including high-profile acquisitions such as Vimeo and WeTransfer—it positions itself favorably within the software landscape that is increasingly influenced by artificial intelligence and competitive disruptions.

As Bending Spoons prepares for this IPO, it will serve as a critical indicator for investor appetite towards software companies in a market characterized by evolving technology paradigms. With leading financial institutions like Goldman Sachs and JPMorgan Chase facilitating the offering, and alongside the heightened interest in high-tech IPOs, this event is positioned to attract considerable attention and may lay the groundwork for future listings within this dynamic sector.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova team.)