Buy BSP by Dec 27, 2026.

Airtable was still growing annual recurring revenue over 20% when Bending Spoons announced the acquisition. About $480M in ARR against a $1.285B enterprise value works out to roughly 2.7x. The equity value was about $2.25B after including Airtable’s net cash. That interests me more than the comparison with Airtable’s $11B valuation in 2021. Plenty of things were expensive in 2021. BSP buys software people already pay for and changes how it’s run. AI could let the same core team handle …