3 articles · Updated · The New York Times · Jun 30
Summary
$1.62 billion is the amount Bending Spoons plans to raise in a Nasdaq IPO this week, in a listing that could value the Italian software buyer at $19 billion.
The deal would bring public a company built around acquiring older internet brands, including AOL, Evernote, Vimeo, WeTransfer, Brightcove and Eventbrite, rather than riding the current AI-led IPO wave.
$1.5 billion is what Bending Spoons paid for AOL this year; the remaining business still generates about $633 million annually, underscoring the cash flow behind its roll-up strategy.
That strategy centers on cutting staff, raising prices and using Milan-based engineers to improve acquired products, a model Chief Executive Luca Ferrari has described as a mix of private equity and Google.