Tech
What is Bending Spoons? Everything to know about AOL’s acquirer
Bending Spoons’ four cofounders this week joined the billionaire ranks.
CEO Luca Ferrari’s stake in the Milan-based tech conglomerate is now reportedly worth $1.4 billion, while cofounders Matteo Danieli, Luca Querella, and Francesco Patarnello each hold stakes worth $1.3 billion, according to Forbes estimates based on shareholder data published by the Italian Business Register.
The valuations come on the heels of Bending Spoons’ latest funding round: $270 million from investors including T. Rowe Price and earlier backers Baillie Gifford, Cox Enterprises, Durable Capital Partners, and Fidelity, plus a $440 million secondary share sale by existing shareholders. It’s unclear whether any of the cofounders sold stock in the secondary transaction. Bending Spoons has declined to comment on its cofounders’ stakes.
Despite its catchy name, Bending Spoons has stayed remarkably under the radar. The 12-year-old outfit typically makes headlines only when it adds another recognizable brand to its growing portfolio — most recently this past week, when it agreed to acquire AOL. for an undisclosed amount.
But Bending Spoons isn’t a traditional private equity firm or a pure financial investment vehicle. Its focus is on acquiring underperforming but popular tech brands, then transforming them to serve millions of users more efficiently.
The company tends to make news when it restructures these acquired companies, often through significant layoffs, or makes controversial changes to beloved products — or both in the case of Evernote and WeTransfer.
Still, Bending Spoons itself remains largely unknown, even though its roster of products has served more than a billion people, with over 300 million monthly active users and 10 million paying customers. Here’s what you need to know about the company reshaping some of the internet’s most recognizable brands.
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What is Bending Spoons?
Bending Spoons describes itself as a company that acquires and transforms digital businesses. Having grown to a headcount of 400 to 500 “Spooners,” its main focus is on making improvements to products and services that others have created.
However, it didn’t start that way — the Bending Spoons’ founders had taken a stab at building their own apps and products before eventually shifting their focus.
The little-known backstory is that Bending Spoons was born out of the remains of Evertale, a Copenhagen-based startup that participated in Disrupt SF 2011’s Startup Alley and raised seed funding for its photo sharing app, Wink.
Evertale failed not long after, and investors got an out, but its founders and a couple of employees kept working together, initially on in-house apps. Soon enough, the team made its first acquisition, followed by many others, CEO and cofounder Luca Ferrari told the 20VC podcast in a rare interview.
In 2020, Bending Spoons made an exception when it created and donated Immuni, Italy’s official COVID-19 contact tracing app. But other than that, it has mostly been honing a formula: Bending Spoons identifies a popular product it thinks it can improve inside and out, and buys it from owners who have reached their limits.
After the acquisition, Bending Spoons is anything but a passive owner, making changes to the products’ user experience and features but also to the underlying tech and most notably to outsiders, to monetization — including pricing — and team organization — including headcount.
While this focus on efficiency and revenue overlaps with private equity strategies, Bending Spoons claims a key difference: it “aims to hold forever, and has never sold an acquired business.” It is building a live portfolio, not collecting internet relics or presiding over a tech graveyard.
To be clear, Bending Spoons’ acquisition targets so far haven’t necessarily been failing businesses — many still had substantial user bases and revenue. But they’ve tended to be stagnant, neglected, or had owners looking to exit. Let’s recap these key deals, and also what happened in their aftermath.
What companies has Bending Spoons acquired?
While Bending Spoons acquired several companies between 2014 and 2021, including AI photo enhancer Remini, its most notable acquisitions happened more recently.
In 2022, it acquired Filmic, known for its popular video and photo editing apps, and laid off the entire staff in December 2023.
In a deal also announced in 2022 and finalized in early 2023, Bending Spoons also cquired Evernote, the note-taking app that had reportedly reached a $1 billion valuation before hitting trouble. Layoffs followed the acquisition, as well as cuts to Evernote’s free offering.
The first half of following year, 2024, was particularly active, with the acquisition of Meetup, app maker Mosaic Group, and Hopin’s StreamYard in the first half of the year.
In July 2024, it went on to acquire the publishing platform Issuu and the file transfer service WeTransfer, where it later cut staff and made changes to its free plan, introducing stricter limits. Later in the year, Bending Spoons announced it would spend $233 million on an all-cash take-private deal to acquire video platform Brightcove.
The acquisitions have continued apace in 2025, with acquisitions that include the outdoors route planner Komoot and management software maker Harvest.
Bending Spoons also announced its intention to acquire Vimeo in a $1.38 billion all-cash deal, and even more recently, to acquire AOL from Yahoo. (Disclosure: both AOL and Yahoo are former owners of TechCrunch, in which Yahoo retains a small interest.)
According to Bending Spoons, the acquisitions of AOL and Vimeo are expected to close by the end of the year, subject to standard closing conditions and regulatory approvals, including, in the case of Vimeo, approval by its stockholders.
How much is Bending Spoons worth?
As of the end of October 2025, Bending Spoons is one of Europe’s rare tech decacorns (companies valued at more than $10 billion). The startup last raised at a $2.8 billion valuation in 2024, making its newest latest round a significant step up.
Though long bootstrapped, Bending Spoons had previously raised equity financing several times, including in September 2022 and early 2024. It also has VIPs on its cap table, including tennis and entertainment stars Andre Agassi and Bradley Cooper; tech industry bigs Eric Schmidt, Mike Krieger, and Xavier Niel; and performers The Weeknd, The Chainsmokers, and Maluma.
According to Bending Spoons, its new funding will support future acquisitions and investment in its proprietary technology and AI capabilities. This comes in addition to the $2.8 billion in debt financing the company disclosed as it announced its intention to acquire AOL, debt that will fund the AOL deal and future acquisitions.
What’s next?
Bending Spoons says it intends to continue pursuing new acquisitions that expand its portfolio of consumer and enterprise digital products, and it now has funding to afford more prominent targets going forward.
AOL and Vimeo already carry far more name recognition than earlier targets, even if deal terms remain undisclosed. The properties also have some reach. In announcing the AOL deal, Bending Spoons claimed that AOL remains one of the top 10 most-used email providers in the world, with 8 million daily active users and 30 million monthly active users. (Not long before acquiring AOL, Bending Spoons was also rumored to be eyeing app maker Elysium and Typeform, the Barcelona-based SaaS company known for its form creation tools.)
Presumably to support its continued efforts to acquire companies, it also has openings across various roles, with new hires initially working from its Milan headquarters before gaining the option to work from offices in London, Madrid, and Warsaw, or remotely.
In fact, despite warning candidates that Bending Spoons is a “demanding environment,” the company has said it already received more than 600,000 job applications in 2025, a figure that will likely climb as its recent deals generate additional attention.
Tech
Waymo starts autonomous testing in Philadelphia
Waymo is adding another four cities to its growing list of robotaxi rollouts. The company announced Wednesday it has begun testing its autonomous vehicles (with a safety monitor) in Philadelphia, and that it will start manual driving to collect data in Baltimore, St. Louis, and Pittsburgh.
Waymo did not offer a timeline for when it plans to launch commercial services in those locations, nor do we know whether the Alphabet-owned company will partner with other companies to operate robotaxis in each one. That has been the move in cities like Atlanta and Austin, for example, where Waymo has partnered with Uber to advance its robotaxi rollout.
But the new locations join a list of over 20 cities where the company is either offering rides, prepping a commercial launch, or testing. Waymo is also now offering rides on freeways in Los Angeles, Phoenix, and the San Francisco Bay Area. The company plans to be doing one million rides per week by the end of 2026.
Waymo has done all this while claiming to be operating at a level five times safer than humans, according to data the company recently released.
But the expansion has not come without its issues. The National Highway Traffic Safety Administration is investigating how the company’s vehicles operate near school buses, after a Waymo was filmed driving around a stopped bus in Atlanta in September.
This week, Austin news outlet KXAN published a report showing Waymo’s vehicles have driven past school buses that were in the process of unloading or loading children multiple times — including after Waymo claims to have shipped software updates to address the problem.
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Tech
Spotify Wrapped 2025 adds its first multiplayer feature with ‘Wrapped Party’
Spotify Wrapped is back. After last year’s widely criticized flop that included an AI podcast as its highlight, the streamer’s highly anticipated annual review feature has returned to its roots. This year, Spotify is doubling down on what it knows works best: deep dives into your streaming data, creative experiences, messages from favorite artists, and other social features.
The company claims that Wrapped 2025 is its biggest, as it’s introducing nearly a dozen new features in addition to its old standbys, like top songs and artists. Plus, it’s offering more visibility into users’ data than in years past. For the first time, Spotify Wrapped is adding a live multiplayer feature to compare your listening data with friends.
Wrapped Party, Wrapped’s first live interactive experience, allows you to invite up to nine friends to compare listening stats.

Also new this year, your Top Songs Playlist will include the play counts for each of the top songs, so you can actually see how much time you spent with your favorite tracks.
Other standout features this year include an interactive Top Song Quiz, a Listening Age feature, and Wrapped Clubs, which match you to one of six unique listening styles.
The company believes these additions will not only bring back the personalized, engaging experience that users have long expected from Wrapped, but will take it a step further by making it more interactive than before.
In the Top Song Quiz, for instance, you can try to guess which top song soundtracked your year before seeing the results.
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The new interactive Wrapped Party feature isn’t just about comparing the personal streaming data you’ve already received to your friends’ data, as that’s something people already do on social media. Instead, the feature presents unique data stories for your group, like who’s the “most obsessed fan,” the “early bird,” the most “picky listener,” or even something as nice as the “dinner table explainer,” meaning the person who listens to the most news podcasts.

Spotify says these awards update dynamically every time you join a Wrapped Party, so no two sessions are ever the same — even if you run through them again with the same group of friends.
The new Wrapped Clubs, meanwhile, will group you into one of half a dozen listening styles, like the “Soft Hearts Club,” the “Club Serotonin,” the “Full Charge Crew,” the “Cosmic Stereo Club,” and others. You’ll also receive a role in the club based on your listening data. You might be a club leader if your listening choices strongly matches the club’s values, a scout if you’re always seeking out new releases, or an archivist if you listen to music from past eras.

Another feature, Listening Age, compares your 2025 music listening to others in your age group. To calculate your age, the feature considers the release years of the tracks you listen to most. From there, it identifies the five-year span of music that you engaged with more than other listeners your age.

As in prior years, you’ll see your top songs, top artists, top genres, and, for the first time, top albums. If you engaged with audiobooks and podcasts, you’ll see metrics for those as well. Artists, writers, and podcasters will have their own version of Wrapped as before. And top fans will again receive video messages from their favorite artists, podcasters, and, now, authors.
You’ll also receive a playlist of your top songs of the year, as before.

What you won’t find in this year’s Wrapped is any feature that advertises it was made with AI.
In a press briefing on Tuesday, Spotify’s Senior Director of Global Marketing, Matt Luhks, admitted the company received a “lot of feedback” about its 2024 AI-focused Wrapped experience, saying it was a “mix of positive and ‘more constructive feedback,’” despite the feature driving more engagement than prior years.
“We take all of that in. We use that as information, insights, [and] inspiration for how we approached Wrapped this year,” he said in a press event ahead of today’s launch.
“What our users tell us about Wrapped means a lot to us, so it was really informative in how we approached Wrapped this year. And what we tried to build was the most creative, most innovative, most engaging Wrapped ever,” he added, setting a high bar for the 2025 edition of the now 11-year-old annual year-in-review feature.
“We’re the original and, we believe, still the best,” Luhks said.

Still, AI was a part of the Wrapped experience. Though the company claims the overall experience was not made with AI, it does leverage a LLM (large language model) to add a storytelling layer to Wrapped’s facts and figures, and natural language summaries in other parts of its experience, looking back on your data.
Spotify’s attempt to fix Wrapped after a notable stumble comes as the streamer faces increased competition from Apple, Amazon, YouTube, and others, which have all launched their own annual review features, inspired by Wrapped.
“Everyone seems to have their own version of Wrapped. Now, there’s a lot of reviews and replays and rewinds out there, but we believe that Wrapped still sets the bar for these year-end recaps,” Luhks said.
Along with the consumer experience, Spotify shared its top artists, songs, albums, podcasts, and audiobooks for the year, with top winners that included, respectively, Bad Bunny (top song and album), Joe Rogan (“The Joe Rogan Experience” podcast), and Rebeca Yarros (author of “Fourth Wing”).
Tech
Nothing looks to its community to raise $5M, wants to be ‘IPO-ready’ in 3 years
Hardware maker Nothing is letting its user base buy its stock as part of a new community investment round of $5 million. The new round, which opens on December 10, will enable consumers to buy the company’s shares at its Series C valuation of $1.3 billion.
The company said it has so far raised $8 million in total from over 8,000 people across two previous community investment rounds. It held its first community funding event in 2021, aiming to raise $1.5 million.
“This isn’t about raising capital, it’s about giving our community/fans a chance to invest while we’re private and join us on the journey,” a spokesperson for Nothing told TechCrunch.
Community investors have a rotating seat on the company’s board, but it is unclear what else they get for investing in the company through such rounds.
Nothing raised $200 million in its Series C back in September from investors including Tiger Global, GV, Highland Europe, EQT, Latitude, I2BF and Tapestry. The company has raised $450 million to date.
The community round comes as Nothing makes changes to its corporate structure as it tries to increase its share of a smartphone market dominated by giants like Samsung and Apple. The company is spinning off its budget CMF brand, and plans to explore AI-centric devices while it keeps building smartphones and audio products. And Nothing claims it crossed $1 billion in cumulative revenue this year, up 150% from 2024.
The startup is working to be “IPO-ready” in three years, CEO Carl Pei told TechCrunch in an email. “The timing will depend on market conditions and what makes sense for the business at that point in time,” he said.
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“What’s important is that we’re already operating with that discipline now. We’re building the systems, the governance, the financial discipline that a public company needs. It forces us to think longer-term and make smarter decisions that prioritise sustainable growth,” Pei added.
It’s not clear if Nothing aims to raise another round before an IPO. When asked about its fundraising plans, a Nothing spokesperson said the company is not thinking about raising capital immediately, but it wouldn’t be averse to those conversations.
Those interested in investing in the community round can use platforms like Wefunder and Crowdcube to participate.
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