Bending Spoons priced its IPO at $29 per share, exceeding the expected range and raising $1.68 billion in the process. The Milan-based holding company, which owns legacy brands including AOL, Eventbrite, and Vimeo, attracted strong investor interest for its acquisition-focused business model.

The company operates as a centralized platform that acquires digital businesses with established user bases, then improves margins through operational efficiency. Its portfolio of 50+ companies serves over 500 million monthly active users across subscription services.

First-quarter results showed strong momentum with revenue reaching $601.3 million, up from $258.9 million a year earlier. The company swung to a $27.5 million profit after posting an $112.2 million loss in the prior period.

Rather than flipping assets, Bending Spoons plans to hold businesses indefinitely, funding new acquisitions through cash flow. The company has identified over 1,000 potential targets representing roughly $400 billion in annual revenue.