Bending Spoons acquires Airtable for $1.28 billion in cash, the Italian app company’s first deal since its Nasdaq debut last month, and a fairly pointed reminder of how far the no-code darling’s valuation has tumbled since 2021.
The deal values Airtable at roughly $2.25 billion once its net cash and cash equivalents are included, Bending Spoons said. That is a long way down from the $11 billion peak the company commanded at the height of the 2021 funding boom, and below even the $4 billion figure at which its shares were reportedly changing hands on secondary markets earlier this year.
Airtable has raised over $1.4 billion across multiple funding rounds since it was co-founded in San Francisco in 2013 by Howie Liu, Andrew Ofstad, and Emmett Nicholas. The company serves more than 500,000 organisations, including 80% of the Fortune 100, according to CEO Howie Liu.
The Hyperagent Carve-Out You Won’t See in the Headlines
The deal has a wrinkle buried in the SEC filing. Before the securities purchase agreement was signed, assets and liabilities tied to the ‘Hyperagent’ business line were transferred out of Airtable entirely. Bending Spoons is acquiring the reorganised entity, not the Hyperagent operation.
That is worth holding in your head alongside Airtable’s January announcement of Superagent, a product line designed to let users spin up teams of AI agents for workflow automation. Whether Hyperagent and Superagent are related, and what becomes of the carved-out entity, is not addressed in the public documents. What is clear is that Bending Spoons is getting Airtable’s core spreadsheet-and-database business, not the whole picture as it stood a few months ago.
The deal was unanimously approved by both boards. Bending Spoons will acquire 100% of Airtable’s issued and outstanding shares. Closing is expected later in 2026, subject to regulatory approvals, with both companies continuing to operate independently until then.
Bending Spoons Acquires Airtable at a Price That Fits Its Playbook Perfectly
Bending Spoons’ formula is not a secret: buy a brand with an established user base that is trading well below its private-market peak, cut headcount, rationalise the product line, and push for profitability. The portfolio already includes Evernote, WeTransfer, Vimeo, and Brightcove, among others.
The pacing has accelerated lately. According to Bending Spoons’ investor newsroom, AOL was acquired in January 2026 and Eventbrite in March 2026, before the Airtable agreement. The company says it served over 500 million monthly active users and more than 9 million monthly paying customers as of March 2026.
The IPO itself closed in late June. IPOScoop records the company pricing 57.97 million shares at $29.00 each on 30 June 2026, a dollar above the top of its $26.00-to-$28.00 range, raising $1.68 billion. One source notes a conflict on implied valuation: the snippet cited $18 billion, while Forge Global puts the implied valuation at $18.4 billion; the $18.4 billion figure from the more specific source is used here. The listing on Nasdaq followed on 1 July 2026.
The financial trajectory heading into the IPO was striking on the growth side. Yahoo Finance’s coverage of the IPO filing noted full-year 2025 revenue of $1.31 billion, up 95% year-over-year, and Q1 2026 revenue of $601.3 million, up 132% year-over-year. Profitability was new: Bending Spoons swung from a net loss of $112.2 million to a net profit of $27.5 million in Q1 2026. Organic growth, as noted in the filing period, was running at approximately 13%.
Airtable’s ARR Trajectory
On Airtable’s side, the numbers are less dramatic but not bad for a business being sold at a steep discount to its historical valuation. Annual recurring revenue was growing at over 20% year-over-year to approximately $480 million as of June 2026, per the deal announcement from Bending Spoons’ founder Luca Ferrari.
‘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,’ Ferrari said.
Vestbee notes Airtable’s ARR moved from around $400 million to $480 million over a 31-month period, so growth has been steady rather than explosive. Whether Bending Spoons’ trademark rationalisation will push those numbers higher or simply make them more efficient is the question Airtable’s 500,000-plus organisations will be watching closely in the months before this deal closes.
