Airtable, the no-code platform once valued at $11.7 billion during the peak-everything era of 2021, just sold for $1.285 billion in cash. The buyer is Bending Spoons, an Italian software company that went public barely a month ago and is already shopping like it got a Costco membership.
The all-cash deal values Airtable’s equity at roughly $2.25 billion when you factor in its net cash position. Still, that’s a brutal markdown from where the company sat just five years ago.
The deal mechanics and what Airtable actually is
Airtable serves more than 500,000 organizations. A full 80% of Fortune 100 companies are customers. Its annual recurring revenue sits at approximately $480 million, growing at a clip exceeding 20% year-over-year.
Airtable essentially combines spreadsheet functionality with database power, letting non-technical teams build custom workflows and applications without writing code. Founded in 2012, it carved out a significant niche in the no-code/low-code movement that’s become central to how companies handle digital operations.
