AOL’s owner, Bending Spoons, hits Wall Street with $1.7 billion IPO
Summary
Bending Spoons, the owner of AOL and other tech companies, raised $1.7 billion by selling shares on the stock market. The company focuses on buying struggling tech firms and improving them, using technology like artificial intelligence (AI) to help grow their businesses.Key Facts
- Bending Spoons sold 58 million shares at $29 each in its initial public offering (IPO).
- The company received $1 billion from the sale, and the total market value reached $25.5 billion.
- Bending Spoons owns companies such as Eventbrite, Vimeo, and recently acquired AOL.
- AOL was a major internet company in the 1990s and early 2000s but struggled after the dot-com crash.
- Founded in Italy in 2013, Bending Spoons has bought over 50 companies and reorganized them.
- The company uses AI to help improve the services of its acquired businesses.
- In early 2026, Bending Spoons earned $27.5 million profit on $601 million revenue.
- Bending Spoons has about 500 million monthly users and 9 million paying customers.
- The company holds nearly $4.4 billion in debt and will use some IPO money to buy more companies.
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