Italy’s Bending Spoons, the digital product studio behind video-sharing platform Vimeo, has filed for a U.S. initial public offering on the Nasdaq exchange, marking a major shift for the Milan-based company as it seeks to raise capital and expand beyond Europe.
The move comes as Bending Spoons, valued at $20 billion and built on a foundation of failure, pivots toward Wall Street to fuel its growth ambitions. According to public statements, the company’s founders—who began their journey after a failed startup—now oversee a portfolio that includes Vimeo, a tool used by over 200 million users globally for video hosting, sharing, and live streaming.
Why a U.S. IPO instead of Europe?
Bending Spoons’ decision to list in the U.S. reflects a broader trend among European tech firms aiming for higher valuations and deeper investor pools. While companies like Spotify and Zalando chose European markets, Bending Spoons’ Nasdaq filing aligns with a strategy to attract global capital, particularly from U.S. institutional investors.
Local media reports suggest the company’s leadership believes Wall Street offers better liquidity and visibility for a business that has grown through acquisitions, including its 2017 purchase of Vimeo for $250 million. The IPO filing itself does not disclose a target valuation, but sources indicate the company is seeking to raise between $1 billion and $1.5 billion.
A company built on failure—and resilience
Bending Spoons’ origins trace back to 2006, when its founders, Luca Signorini and Alessandro Zorloni, launched a failed social network called Bending Spoons (later repurposed as the company’s name). The setback became a turning point: instead of shutting down, they pivoted to building digital products for clients, eventually founding a studio that would acquire Vimeo and grow into a tech powerhouse.
“Everything started with a failure,” Signorini told Italian media. “But that failure taught us how to build something real.” The company’s growth strategy has since relied on organic product development and strategic acquisitions, positioning it as a hybrid between a software studio and a venture-backed tech firm.
What does this mean for Vimeo—and its users?
As Bending Spoons prepares for its public debut, the focus remains on Vimeo, which has become a cornerstone of the company’s business. The platform competes with YouTube and other video-sharing tools, offering creators and businesses tools for monetization, analytics, and live streaming.
According to regulatory filings, Vimeo generates the majority of Bending Spoons’ revenue, with over 100,000 paying customers across enterprise, education, and creative sectors. The company’s decision to go public could accelerate innovation in video technology, including AI-driven editing tools and cloud-based workflows, though details on post-IPO product plans remain limited.
How does this compare to other European tech IPOs?
Bending Spoons joins a select group of European tech firms listing in the U.S., though its scale remains smaller than recent high-profile debuts like Spotify ($8.7 billion IPO in 2018) or Deliveroo ($2.2 billion in 2021). Unlike those companies, which went public earlier in their lifecycles, Bending Spoons is listing after nearly two decades of private growth, suggesting a more measured approach to capital raising.
Analysts note that European tech firms often face lower valuations in local markets due to smaller investor bases. By choosing Nasdaq, Bending Spoons may signal confidence in its ability to command a premium valuation—one tied to its global user base and recurring revenue from Vimeo.
What happens next?
The IPO process could take several months, with Bending Spoons expected to finalize underwriting agreements, file a S-1 prospectus, and secure regulatory approvals. Once listed, the company may use proceeds to expand its product portfolio, though no specific acquisitions or new ventures have been announced.
For now, the focus remains on proving its business model to Wall Street investors—a challenge for a company that has historically operated under the radar compared to its U.S. peers. If successful, the IPO could set a precedent for other European tech firms eyeing a U.S. listing.
