Quote · Pivot
Meta’s Prediction Market App, Europe vs. Big Tech, and Hollywood’s Comeback
Where this was said
Prediction: Bending Spoons — The Hottest Tech IPO of the Month
At 42:35 · chapter starts 40:35
Scott's prediction segment begins with a quiz for the live audience: what will be the biggest first-day tech IPO pop of the month — and it isn't SpaceX. The answer is Bending Spoons, an Italian company that Scott had not heard of until two weeks prior. The firm's model is elegant: buy beloved-but-forgotten internet brands that burned through venture capital building loyal audiences, consolidate the back-end infrastructure (a polite way to say cut costs dramatically), raise subscription prices, and lever the margin power that was always there but never monetised [1] — Scott Galloway "Bending Spoons is an Italian company that buys beloved-but-forgotten internet brands, cuts costs, raises prices, and locks in subscription …" 40:35 . The numbers tell the story: from $270 million in revenue and $120 million in losses in Q1 2025 to $625 million in revenue and $28 million in profit in the most recent quarter. Crucially, 88% of revenue is recurring [2] — Scott Galloway "Bending Spoons: 88% recurring revenue: 88% of Bending Spoons' revenue is recurring subscription income, making the Italian internet roll-up…" 42:20 . Scott compares the strategy to WPP's old playbook — buy at 7x EBITDA, cut, then list at 12x — and predicts Bending Spoons will price at 7–8x its $2.5 billion in revenues.
Bending Spoons is an Italian company that buys beloved-but-forgotten internet brands, cuts costs, raises prices, and locks in subscription revenue. With 88% recurring revenue and a swing from $120 million quarterly losses to $28 million profits, Scott Galloway calls it the biggest first-day-pop IPO of the month.
Italian internet roll-up Bending Spoons reported $270 million in Q1 2025 revenues with a $120 million loss, swinging to $625 million revenue and $28 million profit in the most recent quarter.
88% of Bending Spoons' revenue is recurring subscription income, making the Italian internet roll-up a SaaS-meets-Berkshire-Hathaway model.
