Bending Spoons, the Italian software company and owner of the video platform Vimeo, has priced its US initial public offering (IPO) at $29 per share, raising $1.68 billion. The company sold about 58 million shares in one of the largest IPOs by a European company this year.
Company Overview
Bending Spoons has emerged as one of Europe’s most prominent technology companies, pursuing a strategy of acquiring underperforming software businesses and overhauling them. The company’s portfolio includes brands such as Evernote, WeTransfer, and AOL.
CEO Luca Ferrari described the company’s strategy as a “hybrid” between a private equity fund and a technology company. Bending Spoons does not sell the companies it acquires, but its takeovers have often been followed by deep restructuring and significant job cuts.
IPO Details
The IPO was led by Goldman Sachs Group, JPMorgan Chase, and Allen & Co. Bending Spoons’ shares are expected to start trading on the Nasdaq Global Select Market on Wednesday under the ticker “BSP”.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
