Bending Spoons reached a valuation of âŹ11 billion. Five Italian co-founders run a unique business model that competes globally. They have over 1,000 employees, 50 proprietary technologies, more than 1 billion total downloads, and over 300 million monthly active users. I visited their offices to speak with co-founders Luca Ferrari (CEO) and Francesco Paternello, and with Francesca Vera Magrini, Hiring Management Lead. The company was founded in 2013 in Copenhagen after the failure of their first startup. They moved to Milan in 2014 and focused on M&A, acquiring digital businesses and transforming them. Notable acquisitions include Splice, Remini, Streamyard, WeTransfer, and Vimeo. In 2024 revenue was âŹ622 million, expected near âŹ1.2 billion in 2025 with margins above 50%. The office includes an auditorium, pool tables, kitchens with food, and beer. The culture is based on talent and well-being, with remote work, merit-based growth, and competitive salaries. Luca Ferrari says people are the second most important thing, after strategy.
In a previous interview you said people are the second most important thing, because the first is strategy. Without a clear strategy, you cannot direct talent. What other factors have contributed to Bending Spoons' success?
In a hyper-competitive global business world, you need talent in the 99th percentile and extraordinary dedication. Another important factor is company culture, which sets principles guiding how we work together. The most important elements are ambitionâconstantly striving to be the best in the worldâand rationality, which means using your brain to make good decisions by gathering all realistic information including data, emotions, and intuition, and then applying logical reasoning. Teamwork is also key: we are a zero-hierarchy, informal company where we help each other. Finally, radical meritocracy: every position is filled by the most deserving person regardless of age or tenure.
As Luca explains, what attracts talent is a corporate culture that is not taken for granted in Italian companies. Responsibilities grow with competence, not seniority. If someone tells me they do not want to try to be the best in their field, that is legitimate, but it does not make sense to work here.
The people in the best position to decide should be involved, regardless of how long they have been in the company or their title. We have over 500 spooners, and decision-making ability is very distributed. We involve people based on competence, information, and availability, not just for show.
After attracting so many young talents, how does Bending Spoons select the best? I asked Francesca Vera Magrini, Hiring Management Lead. How many are you and what do you do?
We are about 50 people divided into five teams, each with a specific focus, but with a common goal: to build and maintain the highest possible talent density for Bending Spoons.
So what distinguishes Bending Spoons in terms of talent compared to other highly sought-after companies for students?
The main thing is the level of ownership and impact you can have early on. You work on significant projects and have responsibilities from the start. You share your opinions. It is not a place where you spend the first two years making slides. We look for talented people and give them challenging projects and responsibility. This year we expect 700,000 applications to hire only 250 spooners, so the talent level is stellar and it greatly influences the experience.
Before founding Bending Spoons, Luca Ferrari, along with other co-founders, started their first startup, Evertale. To pay for living expenses, Luca applied to BCG and McKinsey. He worked at McKinsey while working on Evertale at night and on weekends. Who was Luca Ferrari as a student and what ambitions did you have?
I wanted to participate in building a very successful company. Consulting was a means to pay for life and accommodation until we got funding. I resigned as soon as we raised capital. The startup failed after about three years. I never desired a consulting career and was transparent with the partners at McKinsey. I told them about the startup and worked on it nights and weekends. I was terrified they would retract the offer, but they were very encouraging.
Did you study a lot? What other activities did you have besides lectures?
I really liked sports, soccer, going to the gym, reading a lot, hanging out with friends. I always lived in apartments with at least three other students. At one point we were seven in an apartment meant for three.
A bit of everything: physics, economics, psychology, history. I really like processing information and asking questions. I find it stimulating.
Their first startup, Evertale, aimed to automatically write a diary of one's life by accessing smartphone data. This was 15 years ago, before OpenAI and ChatGPT. Luca and his co-founders were already talking about generative AI. How is AI used today in your products and internal processes?
We have been reflecting on AI for a long time. The startup idea in 2010 was about AI. At Bending Spoons, we have tried to use it early and extensively. It is critical both in daily operations and in products. For operations, we use AI tools to optimize ad spending across millions of keywords in 20 languages, adjusting bids in real time. That would require 5,000 people manually. In products, every major product has AI features. Evernote 11, in collaboration with OpenAI, allows users to search notes and get synthesized answers. Remini, our photo enhancement app, went from a couple of models to about 20 different models supporting various features. We invest heavily in AI.
What is the decision-making process for inserting AI into a product that users did not initially adopt for AI? How do you decide?
We do not see AI as an end. No one asks how to use AI in a product. It is a means, like funding. You ask how to best meet a need. Sometimes the answer is machine learning, sometimes not. Or you improve existing features by modernizing technology with AI. For example, Meetup had a recommendation feature; about a year ago we rewrote it using machine learning, greatly improving personalization and effectiveness.
