Baillie Gifford Seeks Co-Investors for Bending Spoons at Up to $12 Billion

Bending Spoons is attracting attention from Baillie Gifford as a potential co-investor, with discussions that could value the Milan-based app developer up to around $12 billion. The talks appear to involve a staged or partial stake sale by Baillie Gifford, aiming at an implied valuation range of $8–$12 billion, and a portion of the stake could be syndicated to other investors. This development follows a period of aggressive acquisitions by Bending Spoons and ongoing fundraising to finance further deals.

Key details to know

• Valuation and process

  • Baillie Gifford is exploring co-investors for a stake that could push Bending Spoons’ valuation toward $12 billion, with a possible lower bound around $8 billion depending on investor demand and structure. This indicates a sizable appetite among existing and new backers for continued expansion via acquisitions and platform enhancements.bloomberg​

• Status and structure

  • The arrangement may involve syndicating part of Baillie Gifford’s stake to other investors, which could broaden the investor base while preserving Baillie Gifford’s governance influence through its position. This pattern is common in late-stage tech rounds where strategic buyers and long-duration investors seek exposure while managing dilution and control.bloomberg​

• Context and implications

  • Bending Spoons has built a portfolio of mobile apps and has pursued large acquisitions, signaling a strategy of consolidating software assets under a centralized platform. A higher valuation aligns with investors’ expectations of scaled growth, improved monetization, and the ability to finance further acquisitions.bloomberg+2​

• Related coverage

  • Other outlets and market commentators have highlighted Bending Spoons’ ongoing deal activity, including high-profile acquisition bids and private-market valuation moves driven by its aggressive expansion. These signals underscore a market that remains receptive to large, tech-focused convergence plays in Europe.sifted+1​

What to watch next

• Confirmation of terms: Any official term sheet or public statement specifying the size of the co-investment, the exact valuation range, and the proposed syndication mechanics.

• Stake representation: Who would hold governance rights if Baillie Gifford’s stake is partially syndicated, and how multi-vote share structures influence control.

• Funding impact: How the new capital would influence Bending Spoons’ acquisition pipeline (e.g., Vimeo, AOL, or other targets) and its debt or equity financing mix.

If you’d like, I can assemble a concise timeline of reported milestones for Bending Spoons’ funding and acquisitions, or summarize how similar co-investment rounds have been structured for other European tech unicorns to provide a comparative lens.