Bending Spoons raises $710M at $11BN, one day after buying AOL
Italian tech conglomerate Bending Spoons has secured $710 million in an equity fundraising round, valuing the company at $11 billion. This significant investment, announced just after the acquisition of AOL, highlights the company's ambitious growth strategy and its prominent position within the European tech landscape. The funding round, led by T Rowe Price with contributions from other major investment firms, is a testament to Bending Spoon’s expansion. The funding round consists of $270 million in new funding, supplemented by a $440 million secondary share sale by existing investors. This latest investment marks a substantial increase from Bending Spoon’s previous valuation of $2.8 billion in 2024. Bending Spoons also secured a $2.8 billion debt facility, enabling further acquisitions and development in areas like artificial intelligence, including acquisitions like Vimeo, WeTransfer, and Evernote. This influx of capital will enable Bending Spoons to expand its portfolio of acquired tech brands and further develop its AI capabilities. The company, focused on acquiring and revitalizing tech brands, is strategically positioning itself to become a significant player in Europe's digital market. This move underscores the ongoing consolidation within the tech industry and the potential for European companies to rival US-based tech giants.
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