Bending Spoons, an Italian software company, has agreed to buy Airtable for $1.285 billion in cash, the company announced Monday. The acquisition values the cloud database and workflow platform at 88 percent below its $11 billion peak valuation in 2021.
Airtable serves more than 500,000 organizations, including 80 percent of the Fortune 100. The announcement shows the platform generated approximately $480 million in annual recurring revenue as of June 2026, growing 20 percent year-over-year.
Bending Spoons went public on July 1 at an $18.4 billion valuation. The Airtable deal marks its first acquisition since listing. The company's portfolio already includes Evernote, WeTransfer, Eventbrite and Vimeo.
Airtable raised over $1.4 billion from investors before reaching its 2021 peak. The startup most recently launched Superagent, an AI orchestration platform that lets businesses create teams of autonomous agents to perform tasks.
The $1.28 billion price places Airtable at roughly 2.7 times its $480 million ARR. SaaS companies in 2021 traded at 25 to 40 times revenue. The same companies now trade at 8 to 12 times revenue.
Bending Spoons specializes in acquiring mature, profitable software products and extracting cash through cost discipline and pricing optimization. The company's public listing gave it currency to pursue larger targets.
The acquisition is expected to close in the coming months, subject to customary closing conditions. Bending Spoons did not disclose whether Airtable would remain independent under its brand or fold into the company's operating model.
