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Bending Spoons' $18.4B Growth via Internet Buys
Bending Spoons, an Italian startup known for acquiring and revamping stalled apps like AOL, Evernote, Vimeo, and Eventbrite, went public on Nasdaq with an $18.4 billion valuation. The company raised $1.7 billion, making its founders billionaires with a combined stake worth $8.9 billion. By purchasing underperforming apps, restructuring their technology, and increasing subscription revenues, Bending Spoons has doubled its revenue since 2024, though it remains heavily leveraged and unprofitable. The firm continues to focus on acquisition and technological innovation, with AI playing a key role in its rebuilding process.
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