Bending Spoons, an Italian company, is making waves by reviving aging internet brands. They are going public this week, aiming for a valuation of $19 billion.
Over two decades ago, America Online merged with Time Warner in a $165 billion deal. Presently, remnants of AOL have been sold for $1.5 billion to Bending Spoons.
“Our idea is to be a hybrid between a private equity firm and Google. It’s like they had a baby.” — Luca Ferrari, Bending Spoons’ CEO
The surprise is not only AOL’s continued existence, earning $633 million annually, but its imminent public listing alongside other longstanding tech brands.
Bending Spoons has acquired numerous older companies, including Evernote, Vimeo, WeTransfer, Brightcove, and Eventbrite. This acquisition strategy contrasts with the current frenzy around AI-driven companies. The AI boom has heightened expectations, fueling several high-profile IPOs. Elon Musk’s SpaceX set records with a $1.77 trillion listing. Investors are awaiting market entries from Anthropic and OpenAI.
Bending Spoons proves that stability lies in legacy brands. Often, they restructure rapidly, including workforce reductions, pricing adjustments, and enhancements by their robust team of engineers in Milan.
Access verification for the full article might be required for subscribers and those interested in The Times.
Transforming Healthcare with AI: A Human-Centric Approach 
White House to Exempt Some AI Systems from Government Vetting 
SpaceX Reports Significant Loss After Initial Public Offering 
Understanding the Rise of AI-Powered Phishing Scams 
Concerns Arise Over Anthropic’s New AI Model and Transparency in AI Journalism 
The Complex Dynamics of Remote Work and Productivity