Bending Spoons Stuns Tech Market: 40% Surge on IPO Debut

03:57 / 02.07.2026·23·Technology

While the global software-as-a-service (SaaS) market is experiencing stagnation under the pressure of AI, Italy's Bending Spoons has made a successful stock market debut. The company's shares surged nearly 40% on the first day of trading, restoring investor confidence in the sector. This is reported by Techcrunch.com reports .

By the end of Wednesday's trading, Bending Spoons shares were trading at $40.50. This is significantly higher than the $29 price during the initial public offering (IPO). As a result, the market capitalization of the 13-year-old Milan-based company reached $25.7 billion, more than double its $11 billion valuation when it was in the private sector.

A strategy of breathing new life into old brands

Bending Spoons is known for its unique business model: the company acquires technological brands that were once popular but have since stopped growing and revitalizes them. Its portfolio includes well-known services such as AOL, Eventbrite, Evernote, Meetup, and Vimeo. The company turns these platforms into profitable businesses by reducing costs, implementing new features, and revising subscription pricing.

The company's financial reports show that this strategy is paying off. According to SEC data, in the first quarter of this year, Bending Spoons generated $601 million in revenue and recorded a net profit of $27.4 million. For comparison, in the same period last year, the company had $259 million in revenue and a loss of $112 million.

Changes and prospects in the SaaS sector

At a time when many traditional SaaS companies fear being replaced by ChatGPT and other AI tools, the success of Bending Spoons has breathed new life into the industry. The majority of the company's revenue, 84%, comes from subscriptions. Unlike other private equity funds, Bending Spoons does not plan to resell acquired businesses but keeps them as long-term assets.

There are other companies in the market operating with a similar strategy, often referred to as those working with "venture zombies" (software firms with slowed growth). These include:

Constellation Software
SaaS.group
Arising Ventures
Calm Capital
Tiny

This successful IPO was also a major financial victory for the company's five founders — Luca Ferrari, Francesco Patarnello, Matteo Danieli, Luca Querella, and Tomasz Greber. Additionally, large investment funds such as Baillie Gifford, Fidelity, and T. Rowe Price have benefited significantly from this growth.