Bending Spoons, the Milan-based company that has quietly assembled a collection of internet nostalgia acts like AOL, Evernote, and Vimeo, closed its first day of public trading at $40.50 per share. That’s roughly 40% above its $29 IPO price, giving the company a market capitalization of approximately $25.7 billion.
The IPO raised $1.68 billion from 57.97 million shares sold. For a company most consumers have never heard of, that’s a remarkable entrance.
The business model: digital estate flipping at scale
The company’s portfolio reads like a time capsule of the internet’s various eras. AOL, acquired in 2025. Vimeo, the platform filmmakers loved and nobody else used. Eventbrite, picked up for around $500 million. Evernote, the note-taking app that peaked sometime around 2015. Meetup. WeTransfer. Brightcove.
The financial results suggest the approach is working. Full-year 2025 revenue hit $1.31 billion. First-quarter 2026 revenue came in at $601 million, up from $259 million in the same period a year earlier.
