Finance
Milan Tech Firm Bending Spoons Picks Banks for $20 Billion US Listing, Sources Say
Published by Global Banking & Finance Review®
Posted on April 23, 2026
3 min readLast updated: April 23, 2026
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Bending Spoons, the Milan‑based tech conglomerate known for reviving acquired digital platforms, has selected Goldman Sachs, JPMorgan, Bank of America, BNP Paribas, Allen & Co. and Jefferies to lead a potential U.S. IPO this year, targeting a valuation near $20 billion.
Bending Spoons Chooses Banks for $20 Billion US IPO, Sources Reveal
By Elvira Pollina and Echo Wang
Bending Spoons' US IPO Plans and Strategic Moves
Bank Selection and IPO Valuation
MILAN/NEW YORK, April 23(Reuters) - Bending Spoons, a European tech firm whose business model is based on reviving companies, has picked banks to organise a potential $20 billion U.S. initial public offering this year, two people close to the matter said.
The Milan-based firm, whose name is inspired by the Hollywood movie "The Matrix" and which last year bought the web portal AOL, has lined up Goldman Sachs, JPMorgan Allen & Co, Bank of America, BNP Paribas and Jefferies, one of the sources said.
The listing could value the company at around $20 billion, the people said, declining to be named because of the sensitivity of the matter.
They added it is expected in the coming months, with one of them saying it could happen before the northern hemisphere summer, subject to market conditions.
Bending Spoons, Goldman Sachs, JP Morgan, BNP Paribas and Jefferies declined to comment. Representatives for Allen&Co and Bank of America did not immediately respond to request for comment.
Growth Strategy and Acquisition History
Expansion Through Acquisitions
GROWTH THROUGH ACQUISITIONS
The company has grown through acquisitions of tech firms, including video platform Vimeo and the apps WeTransfer and Evernote, taking its value in a funding round last year to about $11 billion.
Executive Insights on IPO Timing
In an interview with Reuters in November, Chief Executive Luca Ferrari said the firm was ready to go public and that it could list as soon as this year, while stopping short of committing to a specific timetable.
A year earlier, he had said that if Bending Spoons decided on an IPO, it would probably choose a U.S. listing, citing the higher valuations typically commanded by technology companies in U.S. markets.
Market Context and Competitive Landscape
IPO Market Trends
Markets have been expecting a flurry of IPOs in a potentially record year, although the uncertainty and economic damage caused by the Iran war may disrupt some plans.
Competition with Major Tech Listings
Bending Spoons may also look to avoid overlapping with some of the trillion-dollar names planning to list such as SpaceX, the sources said.
Financial Outlook
Projected Earnings
The firm expected its adjusted earnings before interest, taxes, depreciation and amortisation to reach $1.4 billion in 2026, from $700 million in 2025, Ferrari told Reuters in November.
Reporting Credits
(Reporting by Elvira Pollina in Milan and Echo Wang in New York. Editing by Barbara Lewis)
Key Takeaways
- •Bending Spoons has lined up six banks to manage its planned U.S. initial public offering, aiming for a $20 billion valuation and potentially listing before the northern hemisphere summer (April 23, 2026).
- •The company has rapidly expanded its digital portfolio via acquisitions—including AOL, Vimeo, WeTransfer, Evernote and Eventbrite—and was valued around $11–12 billion at its last funding and backer rounds.
- •Its business model centers on acquiring established tech assets and restructuring them—often through significant layoffs—to boost profitability before undertaking a U.S. listing.
Frequently Asked Questions about Milan tech firm Bending Spoons picks banks for $20 billion US listing, sources say
1Which banks are involved in the Bending Spoons US IPO?
Goldman Sachs, JPMorgan, Allen & Co, Bank of America, BNP Paribas, and Jefferies are reportedly organizing Bending Spoons' US IPO.
2What is the expected valuation of Bending Spoons in its IPO?
Bending Spoons' IPO could value the company at around $20 billion, according to sources close to the matter.
3When could Bending Spoons’ IPO take place?
The IPO is expected in the coming months and could happen before the northern hemisphere summer, subject to market conditions.
4How has Bending Spoons grown its business?
Bending Spoons has expanded through acquiring tech firms like Vimeo, WeTransfer, and Evernote.
5What are Bending Spoons' projected earnings?
The company expects adjusted EBITDA of $700 million in 2025 and $1.4 billion in 2026.
