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3h ago

Bending Spoons Soars 40% in Nasdaq Debut

The strong first-day pop tests whether the company can sustain an AI-driven roll-up strategy now that it is accountable to public investors.

FILE - AOL's home page is shown on a computer screen, Aug. 4, 2006, in New York. (AP Photo/Mark Lennihan, File)
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Matteo Danieli, co-founder of Bending Spoons, center, rings the opening bell during the Bending Spoons initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Wednesday, July 1, 2026. Bending Spoons applies a private equity playbook to software, buying up mostly fledgling subscription-based apps, slashing headcount and handing operations to its roster of Italian engineers. Photographer: Michael Nagle/Bloomberg via Getty Images

Overview

  • Bending Spoons priced its IPO at $29 a share on June 30 and began trading on Nasdaq under the ticker BSP on Wednesday, July 1, with the stock closing around $40.50, roughly a 40% gain.
  • The offering sold about 57.97 million shares and raised roughly $1.68 billion in total with the company receiving about $1 billion of proceeds while other sellers kept the remainder.
  • The public debut pushed implied market value into the mid‑$20 billion range after the first-day rally, a large jump from the company’s $11 billion private valuation in 2025.
  • Bending Spoons reported a Q1 2026 turnaround with $601 million in revenue and about $27.5 million in net income, results it attributes to rebuilding more than 50 acquired brands using engineering and AI.
  • Governance and balance-sheet risks remain: founders keep concentrated control through a dual-class share structure with enhanced voting rights and the company carries nearly $4.4 billion of debt while saying it will use IPO cash to fund more acquisitions.