Bending Spoons Joins the Billionaire Ranks
In a significant development for the tech industry, Bending Spoons’ four co-founders recently entered the billionaire league.
Luca Ferrari, the CEO, is now valued at approximately $1.4 billion due to his stake in the Milan-based tech conglomerate. Co-founders Matteo Danieli, Luca Querella, and Francesco Patarnello are valued around $1.3 billion each, according to estimates from Forbes, based on shareholder data from the Italian Business Register.
These valuations follow a substantial funding round where Bending Spoons raised $270 million from investors such as T. Rowe Price, along with earlier supporters like Baillie Gifford, Cox Enterprises, Durable Capital Partners, and Fidelity. Additionally, there was a $440 million secondary share sale by existing shareholders, though it remains unclear if any co-founders participated in this sale. As of now, Bending Spoons has not commented on their ownership stakes.
Despite its intriguing name, Bending Spoons has largely operated under the radar, typically making headlines when it adds well-known brands to its portfolio. Most recently, the company announced its acquisition of AOL, although the financial specifics of the deal have not been disclosed.
Bending Spoons is distinct from a traditional private equity firm or a financial investment vehicle. Its strategy focuses on acquiring underperforming but popular tech brands, which it subsequently revitalizes to enhance user efficiency and satisfaction.
The company often stirs public interest through its restructuring efforts, which can include significant layoffs or controversial product adjustments, as seen with its handling of Evernote and WeTransfer. Yet, Bending Spoons remains a relatively obscure entity, despite its impressive metrics — it has served over a billion users, boasting over 300 million monthly active users and 10 million paying customers.
What is Bending Spoons?
Bending Spoons positions itself as a company dedicated to acquiring and transforming digital businesses. With a workforce of 400 to 500 “Spooners,” it aims to improve existing products and services created by others.
However, this didn’t happen overnight. The roots of Bending Spoons can be traced back to Evertale, a Copenhagen-based startup that participated in Disrupt SF 2011 and initially focused on a photo-sharing app called Wink. After Evertale’s early failure, its founders, along with some team members, collaborated and shifted their focus from developing new apps to acquiring existing ones.
A unique moment came in 2020 when the company developed and donated Immuni, the official COVID-19 contact tracing app for Italy. Regardless, Bending Spoons typically focuses on identifying promising products that appear to be stagnating, purchasing them from owners who may be looking to exit.
After acquiring a business, Bending Spoons becomes actively involved, implementing changes not only to the product experience and features but also to the technology, monetization strategies, and team structures. Its operational philosophy includes a commitment to long-term ownership, as the company has never sold an acquired business. This positions it differently from typical private equity firms, which often distill value from short-term investments.
The acquisition targets, while not necessarily failing, typically include businesses that have significant user bases but may feel neglected or be underperforming due to lack of attention from their previous owners.
What Companies Has Bending Spoons Acquired?
Bending Spoons has built an impressive portfolio through its strategic acquisitions, particularly in recent years. While several companies were acquired between 2014 and 2021, the most prominent deals occurred more recently.
In 2022, the company acquired Filmic, known for its well-regarded video and photo editing apps, but made headlines when it laid off the entire staff in December 2023. Another notable acquisition was for Evernote, the well-known note-taking app which, despite a past valuation of $1 billion, faced challenges leading to layoffs and changes to its service following the acquisition.
The pace of acquisitions quickened in the first half of 2024, with Bending Spoons acquiring Meetup, Mosaic Group, and Hopin’s StreamYard. This momentum continued with planned acquisitions of Issuu and WeTransfer, both resulting in workforce reductions and alterations to free service offerings. Furthermore, in mid-2024, the company announced an acquisition of video platform Brightcove in a deal worth $233 million.
The acquisition spree continued in 2025, bringing in companies like the outdoor route planner Komoot and management software firm Harvest. Recently, it also announced plans to acquire Vimeo for $1.38 billion and AOL from Yahoo, with both transactions pending final approvals.
How Much is Bending Spoons Worth?
As of October 2025, Bending Spoons has reached the status of a tech decacorn, valued at over $10 billion. The company raised equity financing multiple times, with the most recent valuation pegged at $2.8 billion in 2024.
Long supported through bootstrapping, the financing rounds have garnered attention from an array of high-profile investors, including sports and entertainment stars such as Andre Agassi and Bradley Cooper, as well as tech industry giants like Eric Schmidt and Xavier Niel. The company aims to utilize its new funding for future acquisitions and to bolster its investments in proprietary technology and AI capabilities.
What’s Next for Bending Spoons?
Bending Spoons has expressed its intention to continue acquiring new companies, broadening its portfolio of digital products for both consumers and enterprises. The acquisitions of AOL and Vimeo signifies a shift toward more recognized brands, with Bending Spoons claiming that AOL remains a top 10 email provider globally, attracting 8 million daily active users.
To support its ongoing acquisition efforts, the company is hiring across various roles, allowing new hires to work initially from its Milan headquarters, with opportunities to relocate to offices in London, Madrid, and Warsaw or work remotely. Despite the demanding nature of the environment, it has seen an overwhelming response, receiving over 600,000 job applications in 2025 alone, a number that may continue to grow as its recent deal-making garners attention.
For further insights into Bending Spoons and its recent acquisitions, you can explore more here.
Image Credit: techcrunch.com
