Bending Spoons Buys Airtable for $1.285 Billion

Bending Spoons, an Italian software company that recently went public on the Nasdaq in June, has agreed to acquire Airtable in an all-cash transaction valued at $1.285 billion. This acquisition marks Bending Spoons' first major deal since its initial public offering. The transaction also includes an equity value of approximately $2.25 billion after accounting for Airtable's cash reserves. The purchase price represents a substantial decrease from Airtable's peak valuation during the 2021 tech boom, when the database and spreadsheet company was valued at over $11 billion. At that time, investors were heavily focused on growth metrics, leading to inflated valuations for software companies. More recently, Airtable's shares traded on secondary markets at around $4 billion earlier in 2024. The current deal values Airtable at less than a quarter of its secondary-market price and approximately one-fifth of its 2021 high point. Luca Ferrari, CEO and co-founder of Bending Spoons, expressed enthusiasm for the acquisition, stating in a company release, "We're looking forward to welcoming Airtable into Bending Spoons. Airtable is a pioneering brand reshaping how teams organize data and manage critical workflows." He further elaborated on the valuation, linking it to Airtable's growth trajectory: "The value being delivered is reflected in annual recurring revenue growing over 20% YoY to approximately $480 million as of June 2026, and joining forces with Bending Spoons will accelerate innovation even further." Airtable, established in 2013, currently serves a user base of over 500,000 organizations, including 80% of the Fortune 100 companies. As of June 2026, its annual recurring revenue (ARR) has demonstrated robust growth, exceeding 20% year-over-year to reach approximately $480 million, according to joint company statements. The acquisition is anticipated to be finalized by the end of the current year, contingent upon receiving the necessary regulatory approvals. The significant reduction in Airtable's valuation can be attributed to a broader market correction in software company valuations that began after the 2021 boom. This period saw rapid growth companies receive valuations based on assumptions of continuous compounding growth. However, many of these companies, including Airtable, have since faced pressure to demonstrate sustainable profitability and growth beyond initial rapid expansion, leading to a reassessment of their market value.