Bending Spoons to Acquire Airtable for $1.29 Billion, Well Below Its Peak Valuation

Bending Spoons, the former unicorn that has reported 95% year-over-year revenue growth, has agreed to acquire Airtable in an all-cash deal valuing the software company at $1.285 billion, Catherina Gioino reported for Fortune Tech.

Italian technology company Bending Spoons is acquiring the collaborative database and spreadsheet platform, Airtable. [Photo: Bending Spoons X]

The deal marks the Italian company's first acquisition since it went public on the Nasdaq in June.

The purchase price represents a steep decline from Airtable's peak valuation. Founded in 2013, the database and spreadsheet software company serves 80% of Fortune 100 companies, according to the report.

Airtable has raised more than $1.4 billion in venture funding and was valued at more than $11 billion during the 2021 technology boom.

Bending Spoons has built a portfolio of more than 50 acquisitions, generally targeting well-known applications that it believes are undervalued relative to their user bases, followed by cost reductions and changes to pricing and product design.

Airtable fits a pattern that includes acquisitions such as AOL, Eventbrite, Evernote, Vimeo and WeTransfer.

In a statement, Bending Spoons CEO and co-founder Luca Ferrari pointed to Airtable's growth as a factor behind the deal.

"The value being delivered is reflected in annual recurring revenue growing over 20% [year over year] to approximately $480 million as of June 2026, and joining forces with Bending Spoons will accelerate innovation even further," Ferrari said.

The transaction is expected to close by the end of the year.