Italian app developer Bending Spoons SpA has agreed to acquire U.S. software company Airtable at an equity value of $2.25 billion, according to Bloomberg. The transaction will be completed entirely in cash. After subtracting roughly $965 million in net cash on Airtable’s balance sheet, the deal implies an enterprise value of about $1.29 billion. That marks a steep drop from Airtable’s $11.7 billion valuation in 2021, a decline of around 80%.
Airtable, founded in 2013, makes tools that let non-technical employees build customized applications. The company raised $735 million in late 2021 at the $11.7 billion valuation, but it did not go public within the “next few years” as planned. Bloomberg said the company, like many software firms, struggled to maintain steady growth as generative AI products such as ChatGPT and Claude Code changed the market. As of June 2026, Airtable had about $480 million in annual recurring revenue.
The acquisition is Bending Spoons’ first since its July 1 Nasdaq listing. Bloomberg reported that Airtable will gain resources to build out an AI-native platform after the deal closes, while noting that Bending Spoons’ operating approach is similar to private equity and often includes layoffs and restructuring at acquired companies.
Italian app developer Bending Spoons SpA has agreed to acquire U.S. software company Airtable at an equity value of $2.25 billion, according to Bloomberg. The deal will be completed in cash.
After subtracting about $965 million in net cash on Airtable’s balance sheet, the transaction implies an enterprise value of roughly $1.29 billion.
The price is about 80% below Airtable’s $11.7 billion valuation in 2021, making the deal another example of the valuation reset across the software sector.
Founded in 2013, Airtable sells tools that allow non-technical employees to build customized applications. The company raised $735 million in late 2021 at an $11.7 billion valuation, but it did not go public within the “next few years” as planned.
Bloomberg said Airtable, like many software companies, has struggled to maintain steady growth as generative AI tools such as ChatGPT and Claude Code reshaped demand. As of June 2026, Airtable had about $480 million in annual recurring revenue.
The acquisition is Bending Spoons’ first since its Nasdaq listing on July 1. After the deal closes, Airtable is expected to gain resources to push ahead with an AI-native platform. Bloomberg also noted that Bending Spoons operates in a way similar to private equity and typically carries out layoffs and restructuring at acquired businesses.
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