Bending Spoons has agreed to acquire Airtable in an all-cash deal that implies an equity value of approximately $2.25 billion, adding one of Silicon Valley’s best-known workplace software companies to a portfolio that already includes AOL, Vimeo, Evernote, Eventbrite, Brightcove, WeTransfer, and StreamYard.
The transaction values Airtable at an enterprise value of $1.285 billion. The difference between that figure and the $2.25 billion equity value reflects Airtable’s sizable net cash and cash-equivalents balance.
“We’ve officially agreed to acquire Airtable for $1.285B!” Bending Spoons CEO and co-founder Luca Ferrari said in a post on X.
The deal is expected to close later this year, pending regulatory approvals and customary closing conditions. Bending Spoons and Airtable will continue operating independently until the transaction closes.
For Bending Spoons, the acquisition marks its first deal since listing on Nasdaq on July 1, 2026. It comes after the Milan-based technology company acquired AOL in January and Eventbrite in March, extending an acquisition streak that has turned Bending Spoons into one of the more unusual consolidators in consumer and business software.
Airtable brings something else to that portfolio: a business generating approximately $480 million in annual recurring revenue as of June 2026, with ARR growing more than 20% year over year.
That makes the economics behind the acquisition particularly interesting.
Bending Spoons is getting Airtable at a striking valuation
At $1.285 billion in enterprise value and approximately $480 million in ARR, Airtable is being valued at roughly 2.7 times annual recurring revenue.
That is a striking multiple for a software company still reporting ARR growth above 20%.
The $2.25 billion equity value tells a different part of the story. Based on the figures disclosed by Bending Spoons, Airtable appears to have roughly $965 million in net cash and cash equivalents. That cash stays with the company and explains why the amount going to shareholders is much higher than the enterprise value assigned to Airtable’s operating business.
It is an important distinction for interpreting the acquisition. Bending Spoons is not effectively paying $2.25 billion for $480 million of recurring revenue. After accounting for Airtable’s net cash position, the operating business is being acquired at the stated $1.285 billion enterprise value.
The price looks even more striking against Airtable’s history.
Airtable raised $735 million in a Series F round in December 2021 at an $11 billion valuation, during the peak of the software funding boom. The company had previously raised $270 million at a $5.77 billion valuation earlier that year.
The $2.25 billion implied equity value in the Bending Spoons transaction represents a steep reset from that 2021 high-water mark.
Yet Airtable today is hardly a distressed software asset on the surface. The company says more than 500,000 organizations use its platform, including 80% of the Fortune 100, and its recurring revenue continues to grow.
That combination makes this less a story about a fading software brand and more a story about how dramatically private software valuations have changed since 2021.
From $11 billion startup to Bending Spoons acquisition
Founded in 2013 by Howie Liu, Andrew Ofstad, and Emmett Nicholas, Airtable built its reputation around a simple idea: combine the accessibility of a spreadsheet with the structure and capabilities of a database.
The approach found a large audience among teams that wanted to build internal workflows and applications without relying on engineering departments for every new tool.
Airtable became one of the defining companies of the no-code software boom. Investors poured billions into startups promising to let employees build software through visual interfaces rather than traditional programming.
Its valuation followed that enthusiasm.
By late 2021, Airtable was worth $11 billion on paper and had attracted backing from investors including Benchmark, Coatue, Greenoaks, Thrive Capital, and Salesforce Ventures.
The software market changed sharply after interest rates rose and investors shifted their attention from growth at almost any cost to profitability and cash generation. Private valuations fell, IPO markets slowed, and many highly valued software startups spent the following years cutting costs and extending their financial runways.
Airtable now enters the next phase of its life under an owner with a very different operating philosophy.
Bending Spoons has built an empire by buying established software brands
Bending Spoons does not fit neatly into the traditional private equity or technology company mold.
The company has built its business around acquiring established digital products, restructuring their operations, investing in product development, and holding onto the assets rather than flipping them several years later.
Its portfolio has become increasingly recognizable.
Evernote joined Bending Spoons in 2023. WeTransfer followed in 2024. Vimeo became part of the company through a $1.38 billion acquisition announced in 2025. Bending Spoons later added AOL and Eventbrite in 2026.
Airtable now gives the company a substantial presence in workplace software.
Bending Spoons Acquires Airtable
Bending Spoons CEO and co-founder Luca Ferrari pointed to Airtable’s revenue growth and product position as reasons for the deal.
“We’re looking forward to welcoming Airtable into Bending Spoons,” Ferrari said. “Airtable is a pioneering brand reshaping how teams organize data and manage critical workflows. The value being delivered is reflected in annual recurring revenue growing over 20% YoY to approximately $480 million as of June 2026, and joining forces with Bending Spoons will accelerate innovation even further. 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. 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.”
Bending Spoons says it served more than 500 million monthly active users and over 9 million monthly paying customers across its businesses as of March 2026.
The Airtable acquisition pushes the company further into enterprise software, where recurring subscriptions and long customer relationships can produce a different economic profile from many of the consumer-oriented products in its portfolio.
Airtable sees AI as its next chapter
Airtable has spent the past several years repositioning itself beyond its original no-code database identity.
The company increasingly describes its product as a platform for building business applications and managing enterprise workflows, with AI becoming a larger part of that pitch.
Airtable co-founder and CEO Howie Liu framed the Bending Spoons deal around that next phase.
“When we founded Airtable in 2013, we set out to share the magic of building software with more people—to put the power to create apps in the hands of anyone, regardless of technical skill,” Liu said. “Today, more than 500,000 organizations, including 80% of the Fortune 100, rely on Airtable to power their most critical work. Partnering with Bending Spoons gives us the resources and the long-term commitment Airtable needs to pursue that vision even more boldly as we build the AI-native platform of the future.”
The AI opportunity is meaningful for Airtable since its product already sits close to company data and workflows.
AI agents are increasingly being pitched as systems that can carry out business tasks rather than simply answer questions. For those systems to become useful inside companies, they need access to structured data, permissions, business processes, and applications.
Airtable already occupies part of that layer for hundreds of thousands of organizations.
The harder question is whether Airtable can turn that position into meaningful AI-driven growth as Microsoft, Salesforce, ServiceNow, Google, and a growing group of AI startups chase many of the same enterprise workflows.
Bending Spoons is betting there is plenty of value left to capture.
The numbers may be the biggest story
The acquisition provides another marker for how far software valuations have moved since the 2021 funding boom.
Airtable went from an $11 billion private valuation to a transaction implying roughly $2.25 billion in equity value. Yet the company enters the deal with about $480 million in ARR, more than 20% year-over-year ARR growth, a substantial customer base, and what the disclosed transaction figures suggest is close to $1 billion in net cash.
For Bending Spoons, that creates an unusual acquisition profile: a globally recognized software brand with hundreds of millions of dollars in recurring revenue, substantial cash on its balance sheet, and a purchase price far below its former private-market valuation.
The acquisition may say as much about Bending Spoons as it does about Airtable.
Since its founding, Bending Spoons has pursued businesses with established brands, large user bases, and room for operational changes. Airtable fits that playbook, but at a much larger scale and with deeper exposure to enterprise software.
The deal was unanimously approved by the boards of both companies.
Willkie Farr & Gallagher is serving as legal counsel to Bending Spoons, with Goldman Sachs Bank Europe SE, Succursale Italia, and J.P. Morgan acting as co-financial advisors. EY Advisory S.p.A. is providing financial and tax due diligence services.
Latham & Watkins is serving as Airtable’s legal counsel, and AXOM Partners is acting as its financial advisor.
Once the transaction closes, Airtable will join a Bending Spoons portfolio that has grown from a collection of mobile apps into a group containing some of the internet’s most recognizable software brands.
The bigger test comes afterward.
Bending Spoons has acquired plenty of companies. Airtable gives it the chance to show what its acquisition model can do with a nearly half-billion-dollar recurring-revenue enterprise software business at a moment when AI is reshaping how workplace software gets built and used.
