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Startups

Bending Spoons defies SaaS slump, surges 40% on first day of trading

Bending Spoons defies SaaS slump, surges 40% on first day of trading Image: Primary
Bending Spoons, the Milan-based company that acquires and revitalizes aging tech brands, saw its shares surge nearly 40% in its market debut Wednesday, defying a broader slump in SaaS stocks, TechCrunch reported. The stock closed at $40.50, compared with an IPO price of $29, giving the 13-year-old company a market capitalization of $25.7 billion, more than double its last private valuation of $11 billion. Bending Spoons raised $1.68 billion in its offering. The company has grown
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TechCrunch
Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.
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