Italian technology and software giant Bending Spoons (BSP.US) applies for IPO in the United States, with a rumored target valuation of up to $22 billion.

The Italian technology company Bending Spoons, known for its expertise in acquiring and transforming struggling software enterprises, has officially filed for its initial public offering (IPO) in New York, USA. According to the prospectus submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the Milan-based company achieved a strong performance turnaround in the first quarter of 2026. During the reporting period, the company's revenue reached $601 million, with a net profit of $27.5 million; while in the same period last year, its revenue was $259 million, with a net loss of as high as $112 million. According to sources, Bending Spoons is seeking an IPO valuation between $20 billion and $22 billion. Official representatives of Bending Spoons declined to comment on this pricing rumor. According to data tracking firm PitchBook, after completing the previous round of financing in 2025, the company's valuation was approximately $14.5 billion. That round of heavyweight financing included $270 million in new equity financing, $440 million in old stock transfers, and up to $2.8 billion in debt financing. With the turnaround in performance, the company's user metrics have also shown explosive growth. The prospectus shows that as of March 2026, its monthly active users (MAU) have soared from 111 million in December 2023 to 500 million; during the same period, monthly paid subscribers have also increased significantly from 3 million to 9 million. Founded in 2013, Bending Spoons derived its company name from the famous "bending spoon" scene in the 1990s classic science fiction film "The Matrix," which implied that "the world is just an illusion." In terms of business model, the company adopts a similar approach to private equity (PE) in capital manipulation for struggling software applications: aggressively acquiring subscription-based software services, then decisively cutting redundant staff, and directly transferring core operational work to the programmer team. With this sharp integration strategy, Bending Spoons' M&A footprint has expanded rapidly in recent years. Its assets now include video platform Vimeo, file-sharing service WeTransfer, venerable note-taking app Evernote, and the AI-powered photo editing app Remini. In 2025, Bending Spoons set its sights on the legendary internet portal AOL, which had changed hands multiple times, and reached an acquisition agreement. At that time, CEO Luca Ferrari praised AOL as "an iconic, beloved, and well-functioning business." It is reported that the IPO is jointly underwritten by Goldman Sachs, JPMorgan, and Allen & Co. The company's stock is expected to be listed on the Nasdaq Global Select Market, with the ticker symbol "BSP."