Bending Spoons Files for US IPO After Massive Revenue Surge
Vimeo's parent company swings to profit and more than doubles revenue as it eyes the public markets.
Bending Spoons just dropped its US IPO filing, joining what's shaping up to be a packed summer for public offerings.
The numbers tell a dramatic turnaround story. In Q1, the Italian tech company pulled in $601M in revenue and posted $27.5M in net income. Compare that to the same quarter a year earlier: $259M in revenue and a brutal $112.2M net loss.
That's revenue more than doubling while flipping from deep red to solidly profitable. Not a bad look when you're trying to impress public market investors.
Bending Spoons is best known as the parent company of Vimeo, which it acquired as part of its aggressive buy-and-optimize playbook. The company has built its portfolio by snapping up established software products and squeezing efficiency out of them.
Timing looks deliberate. The IPO window is heating up, and Bending Spoons is walking in with momentum.