After a long decade of quietly acquiring beloved internet brands like Meetup and Eventbrite, Italian company Bending Spoons has gone public with an over $18 billion valuation. Its co-founder Matteo Danieli attributes this success to minimizing the role of luck in growth.

The company's strategy involves transforming acquired businesses through technology rather than flipping them for quick gains. 'We want to place ourselves as an operator that takes beloved brands and makes them much better,' said Danieli, noting that revenue growth has been particularly strong with AI.

One key lesson learned from the failed startup Evertale was the importance of culture and hiring talented individuals, even if they lack a proven track record. This focus on talent has resulted in increased revenue per full-time equivalent employee, despite some backlash over pricing decisions that sparked complaints from long-term subscribers.

Bending Spoons took the unusual step of bringing its entire company to New York for its IPO celebration, emphasizing both a desire for liquidity and a moment to reflect. With SaaS valuations at an all-time low, Danieli sees this as a great opportunity to continue executing their acquisition strategy.