New European decacorn! Milan’s Bending Spoons raises $710M at $11B valuation, completes $2.8B debt package and acquires AOL 

Bending Spoons raised $710M in equity and secured $2.8B in debt financing to support its acquisitions of AOL and Vimeo, bringing its valuation to $11B and expanding its digital product portfolio.

Milan-based Bending Spoons, a provider of digital technology products, announced it has raised $710M (approximately €613M) in equity at a pre-money valuation of $11B (approximately €9.5B) led by T. Rowe Price Investment Management, Inc.

The funding comprises $270M (approximately €233M) in primary capital and $440M (approximately €380M) in secondary capital.

Other participants included Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity Management & Research Company, Foxhaven Asset Management, Radcliff, and more.

The company plans to utilise the funding to further develop its proprietary technologies and AI capabilities.

The company is also planning for new acquisitions that expand its portfolio of consumer and enterprise digital products.

Secured $2.8B in debt package, AOL acquisition and more

A couple of days back, Bending Spoons secured a $2.8B (approximately €2.4B) debt package from leading global banks to finance the acquisition of AOL as well as future M&A.

The Italian company also entered into a definitive agreement to acquire AOL, the web portal and email provider, from Yahoo.

The acquisition is expected to close by the end of the year, subject to customary closing conditions and regulatory approvals.

In September, Bending Spoons signed an agreement to acquire Vimeo, which is expected to close in the fourth quarter of 2025, subject to customary closing conditions and approvals.

After the deal, Vimeo will become privately held and its stock will no longer be publicly traded.

Typically, Bending Spoons follows the same strategy when it comes to M&A.

After an acquisition, the Italian company often focuses on improving technology, updating the user interface, speeding up the release of new features, enhancing marketing and revenue strategies, and restructuring for better long-term performance.

Bending Spoons: Digital product company

Founded in 2013 and led by Luca Ferrari, Bending Spoons has served a billion people through its suite of digital technology products, including Evernote, Meetup, Remini, StreamYard, and Splice.

Its products reach over 300 million users and 10 million paying customers each month, serving a total of one billion people globally.

“This moment is a validation of a decade’s worth of work, and it serves as an important recognition of what we’ve accomplished at Bending Spoons so far. We remain early in our journey and have ambitious plans for continued investment and growth,” shares Luca Ferrari, co-founder and CEO of Bending Spoons. “We’re proud to bring on some of the world’s finest investors who believe in our approach to value creation and future opportunity set.”