Bending Spoons started in 2013 with about $40.000, the money left over from a failed startup.
On July 1, 2026, it listed on Nasdaq at $29 a share, a valuation of about $18.4 billion. Since then:
it closed the acquisition of Airtable, at an enterprise value of $1.285 billion
it agreed to buy Miro, at $1.355 billion
it reported $704 million of revenue in a single quarter, up 126% in a year
What they do? Bending Spoons buys software products that already have millions of users, rebuilds them with its own engineers and tools, and keeps them forever. Evernote, AOL, Vimeo, WeTransfer, Eventbrite and Airtable all belong to it, and it has never sold a significant business it bought.
Most startups spend years looking for product-market fit, the moment a product finds a market that really wants it. Bending Spoons buys products that already have it, and makes money by running them better than their previous owners could.
📚 In this newsletter, I break down how Bending Spoons decides what to buy, wins the deals, rebuilds the companies and the team rules behind all of it. The clips come from the founders’ own interviews.
Inside you’ll find:
How Bending Spoons Decided to Buy Product-Market FitWhy a failed AI startup and $40,000 convinced three engineers to stop betting on luck.How a $10K App Grew Into a $4B Revenue MachineThe first acquisition, the debt ladder, and the Grindr deal that almost took over the company.How They Win Every Deal They Bid OnThe pricing model and why the highest price always wins.What Happens the Day After They Buy a CompanyEvernote from 350 people to 20, AI agents fixing bugs, and how they handle layoffs.The Team Behind Bending SpoonsThe founders and the rules they run on: no titles, no bonuses, every job up for grabs.Why Nobody Has Copied Bending SpoonsWhy private equity structurally can’t, and the numbers that show the gap.
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