Bending Spoons Makes First Post-IPO Acquisition with $1.3 Billion Airtable Deal
The deal follows recent purchases of AOL and Eventbrite as Bending Spoons expands its digital-business portfolio, the companies said.
- On Tuesday, Bending Spoons agreed to buy U.S. software firm Airtable in an all-cash deal valued at $1.285 billion, marking the Italian technology company's first acquisition since its Nasdaq debut last month.
- Airtable's valuation plummeted from $11.7 billion in 2021 to $4 billion earlier this year, as generative AI tools like ChatGPT and Claude eroded market share.
- Bending Spoons went public at an $18 billion valuation in July and typically acquires companies at a discount to private valuations, then streamlines operations to achieve profitability.
- Airtable CEO Howie Liu said the partnership provides resources to build an "AI-native platform," while Bending Spoons founder Luca Ferrari committed to doubling down on the company's core strengths.
- The deal is expected to close by year-end, bringing a platform used by more than 500,000 organizations and 80% of the Fortune 100 under Bending Spoons' expanding portfolio.
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Airtable sale punctures SaaS bubble
This is what capitulation looks like: Airtable, a maker of workflow software, is being sold for just 10% of its peak valuation.It’s a sign that some companies hit hard by the SaaS selloff (or their venture-capital backers, as Airtable is still privately held) are bowing to reality and taking whatever money is available.But it’s one thing to swallow a final down-round, and another to be acquired by a company whose business model is creating an is…
Bending Spoons buys Airtable for $1.285bn
Bending Spoons has agreed to buy Airtable for $1.285bn. Its chief executive is selling the deal as a long-term bet. “Airtable is a pioneering brand reshaping how teams organize data and manage critical workflows,” said Luca Ferrari, the Italian company’s CEO and co-founder. He added that Bending Spoons is “committed to investing in Airtable for […] This story continues at The Next Web
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