AOL Owner Bending Spoons Achieves $1.7 Billion IPO

Bending Spoons, the company that owns AOL and other technology ventures, launched its initial public offering on Wall Street Wednesday, raising $1.7 billion. The company priced 58 million shares at $29 each, securing $1 billion in proceeds while the remainder went to shareholders. Its stock climbed 41% shortly after trading began on the Nasdaq under the symbol “BSP,” reaching a market valuation of $25.5 billion.

Among Bending Spoons' notable acquisitions are the event platform Eventbrite and the video service Vimeo. AOL, an early internet pioneer, was acquired more recently by the company. The digital communications service originally went public in 1992 and was a significant force in the early internet era. AOL reached a peak market value of $164 billion in 2000 before its merger with Time Warner, later experiencing a decline after the dot-com bubble burst and undergoing several ownership changes.

Bending Spoons specializes in acquiring underperforming tech companies and revitalizing them. The company, named after a concept from "The Matrix" films, was founded in 2013 by three individuals who aimed to build a world-class company after an initial startup failure. It has since expanded by acquiring over 50 businesses.

The company reconfigures its acquired businesses, often integrating artificial intelligence into its redesign processes. Bending Spoons maintains a focus on generating subscription-based revenue across its portfolio. For the first three months of 2026, the company reported a net income of $27.5 million on revenues of $601 million. As of March, it reported over 500 million monthly active users and 9 million monthly paying customers.

Bending Spoons carries nearly $4.4 billion in debt and intends to use the capital raised from the IPO to fund new acquisitions. The company's public offering occurs amidst a broader recovery in the IPO market, which recently saw the record-setting debut of SpaceX.