Bending Spoons raises $710M at $11BN, one day after buying AOL

Bending Spoons, the Italian tech conglomerate which typically acquires and tries to revive tech brands, has raised $710m in an equity fundraising round at an $11bn valuation, it said today.

The announcement follows just a day after Bending Spoons said it was acquiring AOL, one of the internet’s most well known early companies.

The equity round was led by T Rowe Price with participation from Baillie Gifford, Cox Enterprises, Durable Capital Partners, Fidelity and others. Bending Spoons was last valued at $2.8bn in a 2024 funding round.

Luca Ferrari, co-founder and CEO of Bending Spoons, said “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."

The $710m funding comprises $270m in new funding and a $440m secondary share sale by existing investors in Bending Spoons.

The funding complements a $2.8bn debt facility the Italian company has also secured, as it hunts out new acquisitions and develops its AI chops.

Along with AOL, Bending Spoons has also acquired Vimeo, WeTransfer and Evernote, among other tech firms.