The Revival of AOL and Other Internet Classics by Bending Spoons

Bending Spoons, an Italian company, is revitalizing aging internet brands while preparing to go public with an estimated valuation of $19 billion. Despite not being part of the artificial intelligence surge, Bending Spoons is carving a niche by acquiring older tech companies, including AOL. Originally part of a $165 billion merger with Time Warner in 2001, AOL was sold to Bending Spoons for $1.5 billion this year.

Far from the high excitement surrounding A.I., Bending Spoons focuses on reinvigorating companies like Evernote, Vimeo, WeTransfer, Brightcove, and Eventbrite. The company’s strategy involves staff reductions, price increases, and product enhancements by its team of Milan-based engineers. Luca Ferrari, CEO of Bending Spoons, describes the approach as a blend between a private equity firm and Google.

The company’s upcoming initial public offering on the Nasdaq aims to raise up to $1.62 billion, highlighting the potential value in longtime internet names. Bending Spoons counters the trend where companies not experiencing hypergrowth become overlooked, demonstrating viable opportunities within older brands.