Bending Spoons SpA, the Milan-based owner of Vimeo, raised $1.68 billion in its US initial public offering, selling 58 million shares at $29 each. That price landed above the marketed range, reflecting strong investor demand for the turnaround-focused software acquirer. The IPO ranks among the largest American listings by a European company this year.
The company specializes in buying struggling software businesses and revitalizing their operations, a model that has drawn both praise and skepticism. Its portfolio includes video platform Vimeo, which it acquired in 2024, alongside other digital tools. The IPO proceeds will help fund further acquisitions and reduce leverage, according to the firm.
Priced at $29 per share, the offering gave Bending Spoons an implied market value of roughly $18.4 billion. That valuation is based on the total shares outstanding after the IPO. Bending Spoons and some of its existing backers participated in the sale, though the exact breakdown of primary versus secondary shares was not disclosed in available sources.
The listing provides a significant liquidity event for early investors and gives Bending Spoons a public currency for future deals. It also signals that Wall Street appetite remains strong for tech acquirers with proven turnaround strategies, even in a cautious IPO market.
Some analysts question whether the company can sustain its growth trajectory as it integrates multiple acquired businesses. The firm faces the challenge of proving its model can consistently deliver value beyond its initial successes.