Vimeo's Owner Just Filed to Go Public at a $20 Billion Valuation

Bending Spoons, the company that bought Vimeo and laid off most of its staff, just filed to take itself public on the Nasdaq.

The Milan-based company filed a Form F-1 with the Securities and Exchange Commission, planning to list its shares under the ticker BSP. Reports put the target valuation at around $20 billion, nearly double the $11.7 billion it was worth in an equity raise just eight months earlier. Renaissance Capital estimates the offering itself at roughly $1.5 billion. Goldman Sachs, JPMorgan, Allen & Co., Bank of America, BNP Paribas, and Jefferies are all signed on to assist, with the broader syndicate expanding to 14 bookrunners spanning Wall Street and European banks.

What Bending Spoons actually is

If the name doesn't ring a bell, the portfolio probably will. The company's current holdings include Evernote, WeTransfer, Vimeo, Eventbrite, Meetup, Brightcove, StreamYard, Remini, and AOL, with Bending Spoons founded in 2013 and now operating out of Milan.

Its business model centers on acquiring digital software and internet brands rather than building new ones. The filing itself describes the strategy plainly: acquire digital businesses, implement deep transformations and ongoing optimizations to sustainably expand earnings, and reinvest in additional acquisitions, continuing the compounding cycle.

That model has a track record that's directly relevant to anyone who uses the company's products. Following the Vimeo purchase, Bending Spoons laid off the majority of employees, including the entire video team. The pattern has repeated across the portfolio: acquisitions are routinely followed by deep layoffs and price increases, and Vimeo's own staff and subscribers experienced both firsthand.

The numbers behind the filing

The financials explain why this IPO has drawn so much attention. Revenue rose from $387 million in 2023 to $671 million in 2024 and $1.31 billion in 2025, a compound annual growth rate of 84 percent. Q1 2026 brought in $601 million, a 132 percent increase over the same period the previous year, with profits of $27.4 million. Subscriptions account for 84 percent of total revenue.

The company projects adjusted EBITDA of $1.4 billion in 2026, up from $700 million in 2025, and its portfolio now reaches over 500 million monthly active users and more than 9 million monthly paying customers.

Why list in the US instead of Europe

That it is listing in New York rather than Europe is itself a statement. The gap in available capital is stark: U.S. markets offer roughly $1.8 trillion in liquidity for software companies, compared to about $65.5 billion across European exchanges, according to PitchBook figures cited in coverage of the filing.

Bending Spoons isn't alone in making that calculation. It joins a broader pattern of elite European tech companies, including Revolut and Klarna, choosing Nasdaq or NYSE listings over domestic alternatives after concluding those markets support stronger valuations.

Competitive Context

Bending Spoons doesn't compete in any single product category the way a typical tech IPO would. Its closest comparison is private equity, not a software peer, buying established platforms, cutting costs, and converting them to subscription revenue rather than building new products from scratch. That distinction matters for how the IPO should be read: the company's pitch to investors isn't about innovation in any one product, it's about the repeatability of a cost-cutting and monetization playbook across very different kinds of internet brands.

The Signal in the Noise

The most useful way to read this filing, for anyone who actually uses Vimeo, is as a signal about what comes next rather than what already happened. Going public adds a new layer of pressure to keep shareholders happy, which could push the company toward even more aggressive monetization of the brands it owns, a pressure customers tend to feel directly through pricing and feature changes.

Vimeo users who lived through the post-acquisition changes already have a preview of what that pressure looks like in practice. A public listing, with quarterly earnings calls and shareholder expectations, doesn't typically loosen that kind of pressure, it tends to formalize it.

Specs & Pricing

This is a corporate filing story rather than a product story, so there's no consumer pricing to verify here. Vimeo's own current subscription pricing is available directly on Vimeo's website for anyone evaluating whether to stay on the platform.

Resources & Reads

Bending Spoons' full Form F-1 filing with the SEC contains the complete financial disclosures referenced above, for anyone who wants the primary source directly.