Bending Spoons Backer Seeks Partners at Up to $12 Billion Value

Baillie Gifford is seeking co-investors for a stake in Bending Spoons that could value the Milan-based app developer at as much as $12 billion, according to a document seen by Bloomberg News and people familiar with the matter.

The Edinburgh-based investor may syndicate part of its stake and is targeting a valuation from $8 billion to $12 billion, the document says.

Founded in Milan in 2013, Bending Spoons has raised equity and debt to fund a string of takeovers, including video platform Vimeo and productivity app Evernote. It has also bought WeTransfer and other consumer software businesses. Yahoo is ...