Bending Spoons Acquires Airtable for $1.28B Enterprise Value

Bending Spoons Makes First Post-IPO Acquisition

Italy's Bending Spoons has agreed to acquire Airtable, the U.S.-based no-code automation platform, for an enterprise value of $1.28 billion. The all-cash transaction values Airtable's equity at approximately $2.25 billion, according to details first reported by Silicon Republic.

The deal represents Bending Spoons' first acquisition since its public listing last month, which raised roughly $1.68 billion at an $18.4 billion valuation.

Sharp Decline from 2021 Peak

Airtable's current valuation marks a dramatic fall from its 2021 position. The company reached an $11.7 billion valuation following a $735 million funding round that year, when CEO Howie Liu stated plans to pursue an IPO within a few years.

Founded in 2013, Airtable built its business around enabling teams to create custom applications without coding expertise. The platform serves more than 500,000 organizations, including 80% of Fortune 100 companies, according to the company.

Despite the valuation decline, Airtable has maintained growth momentum. The company reported annual recurring revenue of approximately $480 million as of June, representing year-over-year growth exceeding 20%.

Why it matters

The steep valuation drop illustrates how quickly generative AI tools like ChatGPT and Claude have disrupted established automation platforms. Companies that once commanded premium valuations for no-code capabilities now face direct competition from AI assistants that can generate similar functionality through natural language prompts. For investors and operators in the productivity software space, Airtable's trajectory signals that pre-AI business models require significant adaptation to maintain market position.

Bending Spoons' Acquisition Strategy

Bending Spoons, led by co-founders Matteo Danieli, Luca Ferrari, Francesco Patarnello, and Luca Querella, specializes in acquiring and revitalizing struggling digital businesses. Its portfolio spans more than 50 companies, including Evernote, WeTransfer, Eventbrite, and AOL.

In recent government filings, Bending Spoons identified over 1,000 businesses as potential acquisition targets, signaling an aggressive expansion strategy following its public debut.

"We're committed to investing in Airtable for the long run, and doubling down on its core strength: bringing teams and workflows together in one flexible workspace," Ferrari said in the joint announcement. "We plan to expand what can be done across the full spectrum of work and make Airtable even more valuable to customers at every scale."

Management's Perspective

Liu framed the acquisition as an opportunity to accelerate Airtable's evolution. "Partnering with Bending Spoons gives us the resources and the long-term commitment Airtable needs to pursue [our] vision even more boldly as we build the AI-native platform of the future," he stated.

The transaction details were first reported by Silicon Republic.