Italian tech conglomerate Bending Spoons, which has built its reputation by scooping up an eclectic mix of companies like AOL and Eventbrite, has filed to go public on the Nasdaq.
Milan-based Bending Spoons has touted itself as working similarly to a PE firm, buying ailing internet brands with the hope of turning them profitable. And like PE firms, it’s been doing so by borrowing billions of dollars—$4.36 billion to be exact, according to its S-1, which also provides the first full picture of the successive acquirer’s financials.
However, Bending Spoons says it does not sell any parts of its portfolio and plans to hold onto its businesses forever.
In 2025, the company reported a net loss of $112 million on revenue of $259 million. For the first quarter of 2026, Bending Spoons reported a net income of $27.5 million on revenue of $601 million.
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Bending Spoons says it has 500 million monthly active users as of March 2026, up from 111 million in December 2023. Over that same time, the company’s paying customers grew from 3 million to 9 million. The jump tracks its acquisition spree: Last year, it bought Eventbrite, AOL and Vimeo in rapid succession. Most recently, it bought the GPS pet tracking startup Tractive in March for an undisclosed amount.
Its other main active businesses, all of which it also acquired, include Brightcove, Evernote, Harvest, Komoot, Remini, StreamYard and WeTransfer.
In October 2025, the company raised $710 million at an $11 billion valuation from Cox Enterprises, T. Rowe Price and Baillie Gifford.
This article originally appeared on PitchBook News
