AOL Owner Bending Spoons Jumps 40% After $1.68 Billion IPO

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Bending Spoons shares surged 40% above their initial public offering price after the company and some of its backers raised $1.68 billion. The trading gives Bending Spoons a market value of $25.7 billion. That compares with a valuation of about $14.5 billion in 2025, after a funding round comprised of $270 million in primary capital and $440 million in secondary capital and a $2.8 billion debt package, according to PitchBook data. Bending Spoons was formed in 2013 and derived its name from a scene in the 1990s science-fiction film The Matrix. The company brings a private equity-style playbook to distressed software apps, buying largely subscription-based services, trimming their staff and handing operations to coders On today's show, Carol and Tim speak with: Luca Ferrari, Bending Spoons CEO AND Bailey Lipschultz, Bloomberg News IPO Reporter Todd Gillespie, Bloomberg News Banking Reporter on today’s Big Take: Citi CEO Jane Fraser Brings Troubled Bank Into Trump’s Favor Lipi Sternheim, CEO, REalloys on a US Army processing facilities partnership Justin Bibb, Cleveland, OH Mayor (D) on CityLab story: Cleveland Plots an Industrial Comeback on East Side 'Midline' Jo Ann Corkran, Co-CEO & Managing Partner, Golden Seeds on $200 Million milestone See omnystudio.com/listener for privacy information.