Bending Spoons, the Italian tech firm that acquired AOL and Eventbrite, filed for a Nasdaq IPO targeting a $20 billion valuation. The company, which also owns WeTransfer and Vimeo, plans to launch the offering by the end of June. Founded in 2013, Bending Spoons buys and revamps digital businesses.

The Milan-based company reported $27.5 million net income on $601 million revenue in Q1, a dramatic turnaround from a $112.2 million loss a year prior. Their products serve over 500 million monthly active users and 9 million paying customers, with recurring subscriptions providing predictable revenue streams.

The IPO comes amid a flurry of summer tech listings as companies rush ahead of SpaceX's expected blockbuster. Bending Spoons CEO Luca Ferrari sees "vast opportunity" with over 1,000 potential digital acquisition targets identified. Goldman Sachs, J.P. Morgan, and Allen & Co lead the offering.