Bending Spoons Buys AOL, Expands Digital Empire
Milan-based Bending Spoons announced on Wednesday that it will acquire AOL from Yahoo, adding one of the most recognizable brands of the early internet era to its fast-growing tech portfolio.
The Italian firm said it secured a $2.8 billion debt financing package to fund the purchase, as well as to support research and development and future mergers and acquisitions. While terms of the deal were not officially disclosed, sources previously reported that Yahoo was nearing a $1.4 billion sale of AOL to Bending Spoons earlier this month.
In a statement, the company called AOL “a beloved business with strong fundamentals,” citing 30 million monthly and 8 million daily active users — metrics that keep it among the top 10 most-used email platforms globally.
Reviving a Digital Icon
AOL, once synonymous with the rise of the internet, dominated the early 2000s before its decline following the infamous AOL-Time Warner merger — then the largest corporate combination in history.
For Bending Spoons, the acquisition represents another step in its broader strategy of revitalizing legacy digital brands. Known for buying struggling but high-recognition tech assets, the company has previously acquired:
- Evernote (note-taking app)
- WeTransfer (file-sharing platform)
- Remini (AI photo editor)
- And most recently, Vimeo, under a definitive acquisition agreement signed in September.
With these moves, Bending Spoons is positioning itself as Europe’s next major digital consolidator, building a diverse ecosystem of consumer-focused platforms under one umbrella.
Financing and Future Growth
The $2.8 billion debt round was arranged by a powerhouse consortium of banks including:
Goldman Sachs, HSBC, BNP Paribas, JPMorgan, Intesa Sanpaolo, Société Générale, Wells Fargo, Mitsubishi UFJ Financial Group, Mizuho, and UniCredit.
This brings Bending Spoons’ total 2025 debt funding to roughly $4 billion, underscoring strong institutional confidence in its M&A-driven growth model.
Market watchers see the company as an emerging candidate for a U.S. IPO, given its accelerating scale and global recognition.
WSA Take
Bending Spoons’ $2.8 billion move for AOL signals the next phase in the globalization of tech ownership — where legacy internet giants are being reimagined by nimble European players.
It’s a bold bet on the enduring power of digital infrastructure and brand nostalgia — the same strategic DNA we saw in Nvidia’s $5 trillion milestone earlier this week, where legacy tech met next-gen reinvention.
Both stories highlight a central theme: ownership of digital history is fast becoming a new asset class — whether through chips that power AI, or brands that shaped the online age.
Read our latest coverage on Nvidia’s record-breaking rise and market impact.
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