Bending Spoons targets $1.62 billion US listing as software IPO market revives
The company aims to value itself at $19 billion at the top of its price range, testing demand for major software listings in a sector that has seen few large debuts recently.
Bending Spoons, the Milan-based technology group behind Vimeo and WeTransfer, is preparing to raise up to $1.62 billion through a US initial public offering. The company plans to list on the Nasdaq Global Select Market under the ticker symbol "BSP" in early July, with shares priced between $26 and $28. At the upper end of this range, the firm would command a valuation of approximately $19 billion.
The offering represents one of the largest IPOs by a European company this year and a significant entry for a major software firm into the US public markets. Goldman Sachs, JPMorgan Chase, and Allen & Co are leading the underwriting process. Bending Spoons intends to market 58 million shares, with roughly 60% sold by the company itself and the remainder coming from existing shareholders, including Baillie Gifford.
The timing of the listing coincides with a resurgence in the US IPO market following a prolonged slowdown. According to Dealogic, companies have raised a combined $150 billion through 179 US IPOs so far this year, marking the strongest start to a year since 2021. This momentum was highlighted by the record-breaking debut of SpaceX in June and the earlier listing of Cerebras Systems.
Bending Spoons’ entry into the public markets will test investor appetite for software companies, a sector that has produced relatively few large IPOs in recent years. The industry faces intensifying competition and shifting business models driven by artificial intelligence. Founded in 2013, the Italian group acquires and revitalises digital businesses, having added internet brand AOL and ticketing marketplace Eventbrite to its portfolio this year.
Financially, the company has demonstrated a shift toward profitability. For the three months ended March 31, Bending Spoons reported net income of $27.5 million on revenue of $601 million, a stark contrast to the net loss of $112.2 million on revenue of $259 million recorded in the same period a year earlier. The firm previously raised $710 million in late 2025 in a funding round that valued the company at $11 billion.
