Bending Spoons: The Company Behind Eventbrite’s Acquisition
▼ Summary
– Bending Spoons is a Milan-based tech company that acquires and transforms underperforming but popular digital brands like Meetup, WeTransfer, and Eventbrite, yet remains largely unknown to the public.
– Its business model focuses on actively restructuring acquired companies, often involving significant layoffs and controversial product changes to improve efficiency and monetization.
– The company has grown into a major acquirer with a vast user base, serving over a billion people, and achieved a decacorn status with a valuation exceeding $10 billion in 2025.
– Bending Spoons funds its acquisitions through equity financing and debt, backed by high-profile investors, and intends to hold its acquired businesses indefinitely rather than sell them.
– The company is reportedly considering an IPO on the NYSE and continues to pursue high-profile acquisitions, expanding its portfolio of consumer and enterprise digital products.
Operating largely out of the spotlight, the Milan-based technology firm Bending Spoons has methodically assembled a significant portfolio of well-known digital brands. While the general public may not recognize its name, millions interact with its products daily. The company’s strategy centers on acquiring established but underperforming tech platforms and implementing rigorous operational changes to enhance their efficiency and profitability. Its recent agreement to purchase the event management platform Eventbrite for $500 million is just the latest in a series of high-profile acquisitions that have reshaped the digital landscape.
So, what exactly is this company? Bending Spoons defines itself as an entity focused on transforming digital businesses. It employs several hundred people, referred to internally as “Spooners,” who work to overhaul the products and services the company acquires. This approach marks a shift from its origins. The company emerged from the remnants of a failed Copenhagen startup called Evertale. After that venture dissolved, the founding team began developing in-house applications before pivoting to an acquisition-based model.
A key part of its philosophy involves active, hands-on management post-purchase. The company delves into every aspect of an acquired business, from user experience and underlying technology to monetization strategies and team structure. This often leads to significant restructuring, including staff reductions and changes to free service tiers, which has generated controversy with products like Evernote and WeTransfer. Despite this, Bending Spoons emphasizes a long-term vision, stating it aims to hold its acquisitions indefinitely rather than flipping them for a quick profit.
The company’s acquisition spree has accelerated in recent years. Notable purchases include the note-taking app Evernote, the community platform Meetup, the file-transfer service WeTransfer, and the video platform Brightcove. In 2025, it announced intentions to acquire Vimeo in a $1.38 billion deal and the iconic brand AOL from Yahoo. Following many of these acquisitions, Bending Spoons has implemented layoffs and revised product offerings, a pattern that has drawn criticism from some original founders.
Financially, Bending Spoons has grown into a European tech giant. A funding round in late 2025, which included investments from firms like T. Rowe Price and Fidelity, propelled its valuation to over $11 billion, earning it “decacorn” status. This financial muscle is supported by both equity investment and substantial debt financing, earmarked for further acquisitions. The company’s cap table also features an eclectic mix of investors, from tennis star Andre Agassi to tech figures like former Google CEO Eric Schmidt.
Looking ahead, Bending Spoons shows no signs of slowing its expansion. With ample capital, it is positioned to pursue even larger and more recognizable targets. The company is also reportedly in discussions with banks regarding a potential initial public offering on the New York Stock Exchange, a move that would provide additional resources for its ambitious growth plans. As it continues to integrate new brands into its portfolio, Bending Spoons is poised to remain a powerful, if somewhat enigmatic, force in the technology sector.
(Source: TechCrunch)
