Bending Spoons Raises $710 Million, Becomes Top European Startup

Milano, Italy – Bending Spoons, an Italian technology company, has raised $710 million in its latest funding round, achieving a valuation of $11 billion. This investment places it among the top five most valuable startups in Europe.

The capital will enable Bending Spoons to further develop artificial intelligence solutions and pursue additional acquisitions following its recent purchases of Vimeo, Evernote, and AOL.

In this funding round, several U.S.-based investors participated, including T. Rowe Price Investment Management, Baillie Gifford, and Durable Capital Partners. Luca Ferrari, co-founder and CEO of Bending Spoons, expressed gratitude, stating, “This moment confirms ten years of hard work and is a significant recognition of what we have achieved so far at Bending Spoons.”

Founded in 2013, Bending Spoons initially focused on app development but has since transformed into a serial acquirer for successful apps needing revitalization. Over the past three years, the company has acquired notable applications such as Evernote and AOL, establishing itself as a sort of private equity firm in the app industry.

The company now serves over a billion users, with more than 300 million active monthly users and 10 million paying customers. Despite this success, Bending Spoons has faced criticism in the tech community due to aggressive cost-cutting measures, including significant layoffs and price hikes.

As it moves forward, Bending Spoons is committed to its ambitious plans for continued investment and growth, aiming to solidify its position within the competitive tech landscape.