# Bending Spoons IPO

Business · Heat 1.2 / 10 · 4 shows · 14m airtime

Bending Spoons listed on NASDAQ on July 15, 2026, at a valuation above $18 billion, rising 40% on its first day. Reporting since has traced the company to a $10,000 keyboard-app acquisition in 2014, with acquired businesses supplying at least 90% of revenue since; it has never sold a material business and its core team is roughly 800 people. Cost efficiencies account for about 50% of value creation and org optimization 30-35%, with headcount cuts reaching 80%+ in some deals. Berkshire disclosed an additional $330 million on October 14, taking its stake to 4 percent. The discussion now turns on leverage: almost $5 billion in long-term debt, with Q2 interest expense of $109 million at about 29% of adjusted operating…

Page: https://boilpoints.com/point/bending_spoons_ipo_1127390870

## Segments

- [Prof G Markets](https://boilpoints.com/u/profgmarkets), 2026-10-04, 1:00 to 2:13: **Previews the NASDAQ listing and buy-and-overhaul model**. Introduces the Founder Series conversation with Bending Spoons CEO Luca Ferrari, framing the company's buy-and-overhaul model and its summer NASDAQ listing above $18 billion with a 40% first-day pop. New angle: Bending Spoons went public on NASDAQ above an $18 billion valuation, jumping 40% on day one.
- [Prof G Markets](https://boilpoints.com/u/profgmarkets), 2026-10-04, 6:12 to 10:26: **Corrects the app-studio framing with deal history**. Luca Ferrari corrects the app-studio framing: Bending Spoons has always been an acquirer, buying its first app in 2014 for $10,000 and taking at least 90% of revenue from acquired businesses every year since. New angle: The first acquisition was a $10,000 keyboard app in 2014; acquired businesses have supplied at least 90% of revenue since.
- [Closing Bell](https://boilpoints.com/u/closingbell), 2026-10-14, 18:53 to 20:09: **Reports Berkshire's added $330 million stake**. Reports Berkshire's follow-on: an additional $330 million disclosed, taking its stake to 4 percent, after the $600 million it put in at the July listing. Notes the WSJ accounting and amortization questions and the short position Berkshire is now leaning against. New angle: Berkshire disclosed an additional $330 million in Bending Spoons, taking its stake to 4 percent.
- [Squawk Pod](https://boilpoints.com/u/squawkpod), 2026-10-15, 12:11 to 14:06: **Recaps the filing and the 41 percent move**. Recaps the Berkshire filing and the 41 percent move, then stays inside the familiar frame: an Italian conglomerate that buys and overhauls software, more high-tech private equity than Berkshire. The Luca Ferrari history is color, not a new fact.
- [The Compound and Friends](https://boilpoints.com/u/thecompoundandfriends), 2026-10-20, 30:28 to 36:07: **Adds the leverage math to the IPO story**. Walks through the Bending Spoons model - buying declining apps, cutting staff, running them with AI - and lays out the bear case: a hold-rated stock, 3% organic growth in Q2, and nearly $5 billion of debt with interest expense tripled. Adds the first hard financials and the leverage math to a story previously told through its IPO pop and… New angle: Bending Spoons carries almost $5 billion in long-term debt; Q2 interest expense of $109 million is about 29% of adjusted operating income.