> ## Content Index
> Fetch the complete content index at: https://www.theinvestorsociety.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Bending Spoons to Buy Airtable for $1.28B in First Post-IPO Acquisition
- URL: https://www.theinvestorsociety.com/bending-spoons-to-buy-airtable-for-1-28b-in-first-post-ipo-acquisition/
- Published: 2026-08-05T23:00:39.000Z
- Updated: 2026-08-05T23:00:38.000Z
- Author: The Editor
- Tags: Western Hemisphere

Bending Spoons, the Milan-based software conglomerate led by co-founder and CEO Luca Ferrari, has signed a definitive agreement to acquire Airtable in an all-cash transaction valuing the company at US$1.285 billion in enterprise value, or roughly US$2.25 billion in implied equity value once Airtable's net cash is included. Both boards unanimously approved the deal, which is expected to close later in 2026 subject to regulatory approvals. It is Bending Spoons' first major acquisition since listing on Nasdaq on July 1, 2026, at a valuation near US$18 billion.

Airtable was founded in 2012 in San Francisco by CEO Howie Liu alongside co-founders Andrew Ofstad and Emmett Nicholas, and built a spreadsheet-database hybrid used to organize data and run workflows. It is used by more than 500,000 organizations, including 80% of the Fortune 100, and reported roughly US$480 million in annual recurring revenue as of June 2026, growing more than 20% year over year. The company raised over US$1.4 billion across its life, with a US$735 million Series F in December 2021 that valued it at US$11 billion and drew backing from Salesforce and Michael Dell. "Airtable is a pioneering brand reshaping how teams organize data and manage critical workflows," Ferrari said. Liu said the deal "gives us the resources and long-term commitment needed to pursue our vision."

## Market Context

The price tells the story of the post-2021 software correction. Airtable peaked at US$11 billion during the technology boom, traded near US$4 billion on secondary markets earlier in 2026, and is now changing hands at an implied equity value of about US$2.25 billion, roughly 80% below its high. At US$1.285 billion in enterprise value against US$480 million in ARR, the deal prices the business at under three times recurring revenue, an unusually low multiple for a company still growing above 20%, and one that reflects investor uncertainty about whether AI tools erode demand for no-code database and workflow products. Airtable cut 254 jobs in December 2022 and another 237 in September 2023, then moved aggressively into AI, acquiring the startup DeepSky in October 2025, hiring former OpenAI engineer David Azose as chief technology officer, and launching its Superagent product in January 2026.

Bending Spoons has built a business on precisely these situations. Its portfolio includes Evernote, WeTransfer, Vimeo, AOL, Eventbrite, Brightcove, Meetup, komoot, Harvest, and Issuu, assembled by buying established brands at discounts and running them with far smaller teams. The company reported US$1.31 billion in revenue for 2025, serves more than 500 million monthly active users and over 9 million paying customers, and operates with a core staff of roughly 620 people, having lifted revenue per employee from US$1.12 million in 2023 to US$2.57 million in 2025\. Management has said it has identified more than 1,000 potential acquisition targets representing some US$400 billion in combined 2025 revenue.

## The Signal

> "Partnering with Bending Spoons gives us the resources and long-term commitment needed to pursue our vision." — Howie Liu, co-founder and CEO, Airtable

## Regional Relevance

**For the United States:** Airtable is a San Francisco company that raised more than US$1.4 billion largely from American venture funds and became a fixture in corporate workflows, reaching 80% of the Fortune 100\. Its sale at roughly 80% below peak valuation is a concrete marker of how the 2021 software cohort is resolving, with late-stage investors who bought at US$11 billion facing steep losses while the business itself continues growing. The transaction also transfers a widely used American enterprise tool to European ownership, a direction of travel that has been less common than the reverse.

**For Italy and European technology:** Bending Spoons has become one of Europe's most consequential technology acquirers, and this deal extends an unusual model in which a Milan-based company buys well-known American internet brands rather than competing with them directly. Its July listing on Nasdaq, rather than a European exchange, and the founders' retention of more than 80% voting control, illustrate both the ambition and the governance structure behind that strategy. For Italy's technology sector, historically overshadowed by other European hubs, the company represents a rare instance of homegrown scale operating on American terrain.

## The Other Side

**What happens to Airtable's employees?** Bending Spoons' record here is documented: WeTransfer lost about 75% of staff shortly after its 2024 acquisition, Evernote saw nearly all employees cut following a brief handover, Vimeo underwent broad layoffs after its 2025 purchase, and the company itself has indicated that of roughly 1,830 employees added through the AOL, Eventbrite, and Vimeo deals, only a few hundred are expected to remain. Airtable has already cut nearly 500 jobs across 2022 and 2023.

**What happens to Airtable's customers?** The playbook after acquisition has typically involved price increases and tighter free tiers, with Evernote's free plan capped at 50 notes and WeTransfer's limits restricted, changes that drew user backlash and prompted WeTransfer's co-founder to launch a competing service. With 500,000 organizations and most of the Fortune 100 running workflows on Airtable, the switching costs are higher here than for consumer tools, which gives the buyer more pricing power and gives customers more reason to watch closely.

**What does a sub-three-times-revenue multiple say about the category?** Paying US$1.285 billion for US$480 million of ARR growing above 20% is a valuation normally reserved for declining businesses, suggesting the market is skeptical that no-code database and workflow tools retain their position as AI systems become capable of assembling similar functionality on demand; Airtable's own pivot toward AI agents may be read either as the right response or as confirmation that the original product category is under pressure.

## Sources & Transparency

- [TechCrunch — Bending Spoons to buy Airtable for $1.28B](https://techcrunch.com/2026/08/04/bending-spoons-to-buy-airtable-for-1-28b/?ref=theinvestorsociety.com)
- [Bending Spoons — Bending Spoons has entered into a definitive agreement to acquire Airtable for $1.285 billion](https://investors.bendingspoons.com/newsroom/bending-spoons-agrees-to-acquire-airtable?ref=theinvestorsociety.com)
- [Vestbee — Bending Spoons to acquire Airtable for $1.28B in first post-IPO deal](https://www.vestbee.com/insights/articles/bending-spoons-to-acquire-airtable-for-1-28-b?ref=theinvestorsociety.com)
- [TechCrunch — What is Bending Spoons? The little-known AOL and Vimeo owner that's now public](https://techcrunch.com/2026/07/05/what-is-bending-spoons-everything-to-know-about-aols-acquirer/?ref=theinvestorsociety.com)
- [WebProNews — Bending Spoons Acquires Vimeo for $1.38B, Triggers Mass Layoffs and Closures](https://www.webpronews.com/bending-spoons-acquires-vimeo-for-1-38b-triggers-mass-layoffs-and-closures/?ref=theinvestorsociety.com)
- [Wikipedia — Airtable](https://en.wikipedia.org/wiki/Airtable?ref=theinvestorsociety.com)