Bending Spoons, the former unicorn that posted 95% revenue growth year over year, agreed Tuesday to buy Airtable in an all-cash deal that values the software company at $1.285 billion, with an equity value of about $2.25 billion once Airtable’s cash balance is factored in. The deal marks the Italian company’s first acquisition since it went public on the Nasdaq in June.
The price is a steep drop from Airtable’s peak. The database and spreadsheet company raised more than $1.4 billion in venture funding and was valued at over $11 billion during the 2021 tech boom, when investors were pricing software companies on growth alone. Earlier this year, its shares traded on secondary markets at around $4 billion. Tuesday’s deal values it at less than a quarter of that secondary-market price, and about a fifth of its 2021 high.
