3 hours ago - Business

Bending Spoons agrees to buy Airtable

Dan Primack

Illustration of a dirty, digital arrow cursor that is leaning on a crutch, wearing a bandage on its point and two adhesive bandages on its front. — Illustration: Brendan Lynch/Axios

Bending Spoons on Tuesday said it has agreed to acquire Airtable, a San Francisco-based relational database company, for $1.29 billion in cash.

The implied equity value is $2.25 billion, including Airtable's cash and cash equivalents.

Why it matters: This is one of the first major SaaSpocalypse sales, and an absolute crater for many of Airtable's venture capital investors, despite the unicorn-level sale price.

By the numbers: Airtable had raised around $1.35 billion since its 2012 founding.

$735 million in 2021 led by XN at an $11 billion pre-money valuation. Others on the deal included Silver Lake, Iconiq, Salesforce Ventures, and T. Rowe Price.
$270 million round just months earlier led by Greenoaks at a $5.5 billion pre-money valuation.
$185 million Series D round in late 2020 led by Thrive Capital at a $2.4 billion pre-money valuation.

Catch up quick: Bending Spoons is a holding company for legacy tech brands like AOL and Eventbrite. It went public in July, after which CEO Luca Ferrari told Axios that "predictability" is the main characteristic he looks for in an acquisition target.

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Bending Spoons agrees to buy Airtable

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