MILAN Bending Spoons, one of Europe’s leading technology companies, today announced it has raised $710 million in equity at a pre-money valuation of $11 billion. The round was led by accounts advised by T. Rowe Price Investment Management, Inc., with participation from Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity Management & Research Company, Foxhaven Asset Management, and Radcliff, among others. Goldman Sachs International acted as sole placement agent and Clifford Chance served as legal advisor to the transaction. Notarial advisory services were provided by ZNR Notai.
“This moment is a validation of a decade’s worth of work and it serves as an important recognition of what we’ve accomplished at Bending Spoons so far. We remain early in our journey and have ambitious plans for continued investment and growth,” shares Luca Ferrari, co-founder and CEO of Bending Spoons. “We’re proud to bring on some of the world’s finest investors who believe in our approach to value creation and future opportunity set.”
The round comprises $270 million in primary capital and $440 million in secondary capital. Bending Spoons also recently secured a $2.8 billion debt package from leading global banks. The company plans to deploy these resources to further develop its proprietary technologies and AI capabilities, and to pursue new acquisitions that expand its portfolio of consumer and enterprise digital products. In the past two months alone, Bending Spoons has entered into agreements to acquire AOL and Vimeo, subject to customary closing conditions and regulatory approvals, including, in the case of Vimeo, approval by its stockholders.
