Bending Spoons targets $1.62 billion U.S. IPO at up to $19 billion valuation

Bending Spoons is pushing into the U.S. market with one of the year’s biggest software listings, a deal that will test whether investors are rewarding real operating momentum or simply warming back up to tech again. The Milan-based company, owner of Vimeo, plans to raise as much as $1.62 billion in an initial public offering that would give public investors a direct bet on an acquisition-heavy software operator rather than a classic startup growth story.

The offering is structured around 58 million shares priced at $26 to $28 each, a range that would put the company’s valuation at about $19 billion at the top end. Roughly 60% of the shares are expected to come from Bending Spoons itself, with the rest sold by existing shareholders, including Baillie Gifford. The company is targeting an early-July debut on Nasdaq, placing the deal squarely in a U.S. IPO window that has turned more active for tech names after a long stretch of caution.

Bending Spoons filed a Form F-1 with the SEC on June 8 as a foreign private issuer incorporated in Italy, after earlier confidential draft submissions on March 13, May 4 and May 26. The filing lands after a sequence of acquisitions that turned the company into a software consolidator, not a conventional scale-up. Bending Spoons completed its acquisition of Eventbrite on March 10, following a merger agreement announced on December 1, 2025, and it entered a merger agreement to acquire Vimeo on September 10, 2025.

The financial pitch is built on scale and profitability. Reporting around the filing says Bending Spoons has more than 500 million monthly active users and more than nine million paying customers. Revenue climbed from $387 million in 2023 to $1.31 billion in 2025, and one report said first-quarter 2026 revenue reached about $601 million, with net profit of $27.5 million. Those figures will likely appeal to investors looking for software companies that can already show earnings power rather than distant margin potential.

Still, the balance sheet gives the story a second reading. Morningstar said Bending Spoons carried $4.36 billion in debt after its acquisition spree, and the company raised $270 million in 2025 at an implied valuation of about $11 billion after announcing $2.8 billion in debt financing. That makes the IPO more than a coming-out party. It is also a partial refinancing event, a chance for Bending Spoons to convert its acquisition strategy into a public-market currency just as investors decide how much leverage and complexity they are willing to price into a software name.