Bending Spoons raises $1.68 billion in Nasdaq IPO priced above range
Bending Spoons, the Milan-based group that owns Vimeo, WeTransfer and Evernote, priced its US IPO above the marketed range and raised $1.68 billion. The company and existing shareholders, including the fund Baillie Gifford, sold 57.97 million shares at $29 apiece, above the $26-28 range, ahead of the stock's Nasdaq debut.
AI-processed from TNW; edited by Hamidun News
Bending Spoons, the Milan-based software group that owns Vimeo, WeTransfer and Evernote, priced its US IPO above the marketed range and raised $1.68 billion ahead of its debut on the Nasdaq.
How many shares were sold and at what price
According to Bloomberg, the company and existing shareholders, including the investment firm Baillie Gifford, sold 57.97 million shares at $29 each. That beats the initially marketed range of $26-28 per share, a sign of strong investor demand for the offering.
What products Bending Spoons owns
Bending Spoons is a Milan-based tech group that has bought up several well-known software services in recent years: the video platform Vimeo, the file-sharing service WeTransfer and the note-taking app Evernote. All three brands still carry mass-market name recognition, which became part of the company's investment pitch ahead of the IPO.
- Offering result — $1.68 billion raised
- Share price — $29 (above the $26-28 range)
- Shares sold — 57.97 million
- Sellers — the company and existing shareholders, including Baillie Gifford
- Listing venue — Nasdaq
Pricing shares at $29, above the initial $26-28 range, is a rare outcome for an IPO in the current market and usually indicates that the order book was oversubscribed.
What it means
The above-range pricing shows that investors are still willing to pay a premium for consolidators of recognizable consumer and productivity services, even as the broader IPO market remains selective. Bending Spoons has turned a string of acquisitions of well-known brands into one of the more notable tech debuts on the Nasdaq. Baillie Gifford's presence among the selling shareholders also confirms that the fund chose to lock in some of its gains right at the peak of market interest in the offering.
Frequently asked questions
How much did Bending Spoons raise in its IPO?
The company raised $1.68 billion by pricing its shares at $29 each, above the marketed range of $26-28.
Which services does Bending Spoons own?
The Milan-based group owns the video platform Vimeo, the file-sharing service WeTransfer and the note-taking app Evernote.
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Key Questions Answered
How much did Bending Spoons raise in its IPO?
The company raised $1.68 billion by pricing its shares at $29 each, above the marketed range of $26-28.
Which services does Bending Spoons own?
The Milan-based group owns the video platform Vimeo, the file-sharing service WeTransfer and the note-taking app Evernote.
How many shares were sold and at what price?
According to Bloomberg, the company and existing shareholders, including the investment firm Baillie Gifford, sold 57.97 million shares at $29 each. That beats the initially marketed range of $26-28 per share, a sign of strong investor demand for the offering.
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