Bending Spoons trades near 10x revenue, 40x EBITDA with $4B in debt
MartinGTobias · x · 2026-10-15
Investor Rick Zullo notes Bending Spoons trades near 10x revenue and 40x EBITDA on 30% growth (almost entirely inorganic) with $4B in debt, while megafunds price organically-growing, debt-free companies at just 2x revenue and 6x EBITDA. Martin Tobias adds that retail shareholders are more forgiving than PE buyers, which is why the CEO does press tours to convince unsophisticated investors of the premium.
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