Bending Spoons announced a new $330 million investment from Berkshire Hathaway on October 14, 2026, strengthening financial backing for its strategy of buying and reshaping established software businesses. The proposed investment follows Berkshire’s $600 million commitment at the company’s July IPO and would bring its ownership to 4%.
Key Takeaways
- Berkshire’s latest investment is a private placement that remains subject to customary closing conditions.
- Bending Spoons buys businesses to operate for the long term, rather than preparing them for resale.
- Recent acquisitions have expanded the portfolio, but restructuring and customer retention remain important tests.
Table of Contents
- Bending Spoons secures another Berkshire commitment
- A long-term owner with a hands-on operating model
- Airtable cuts and the pending Miro purchase
- Acquisition-led growth still needs an operating test
- Conclusion
Bending Spoons secures another Berkshire commitment
The Milan-based technology company said its Berkshire private placement will involve issuing 10 million ordinary shares at $33 each. Together with the IPO investment, the announced commitments total $930 million. The latest transaction had not been presented as completed in the announcement.
Co-founder and acquisitions chief Francesco Patarnello said the investment would enhance financial flexibility and the ability to pursue acquisitions. Chief executive Luca Ferrari described Berkshire as a longstanding inspiration for the company’s approach.
Shares rose 41% following the investment news before surrendering some gains later in the week. They closed October 16 at $47.07, leaving Bending Spoons with a market value of about $30 billion. That market reaction reflects investor enthusiasm, not proof that the acquisition strategy will deliver sustained growth.
| Item | Details |
|---|---|
| IPO pricing | June 30, 2026; $29 per share |
| IPO proceeds | Approximately $1.7 billion raised |
| Nasdaq trading debut | July 1, 2026 |
| Miro shareholder reinvestment | Certain shareholders agreed to invest $295 million of proceeds in newly issued Bending Spoons equity as part of the proposed transaction. |
A long-term owner with a hands-on operating model
Bending Spoons differs from buyout firms that aim to improve businesses and eventually sell them or return them to public markets. It seeks to retain its acquisitions, generate earnings and reinvest in additional purchases. The company says it has never sold a material business.
Its resemblance to Berkshire has limits. Bending Spoons concentrates on digital businesses and intervenes directly in technology, staffing, product design and pricing. Its portfolio includes Evernote, AOL, Vimeo, Brightcove, Eventbrite and WeTransfer.
Ferrari said in an October 15 interview that acquisitions account for the overwhelming majority of the company’s growth. He described an initial period of operational improvements, after which each business depends more on the organic growth available in its market.
Airtable cuts and the pending Miro purchase
The operating model can mean substantial disruption for acquired teams. On October 12, Bending Spoons said a large portion of Airtable’s pre-acquisition workforce would leave with substantial separation packages. It had announced the roughly $1.3 billion acquisition in August and completed it in early September.
The next major planned addition is collaboration platform Miro. Bending Spoons agreed on September 10 to acquire it at an enterprise value of $1.355 billion. Including Miro’s net cash, the transaction implies an equity value of approximately $1.79 billion; those figures measure different things and should not be treated as interchangeable purchase prices.
The Miro transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary conditions. Until completion, the companies are to operate independently.
Customers can also face changes after acquisitions. Following the Evernote purchase, Bending Spoons raised its annual personal subscription price in April 2023 to $130 from $70. Such increases put customer willingness to stay with an established product at the center of the operating strategy.
Acquisition-led growth still needs an operating test
In its first earnings report as a public company, released in August, Bending Spoons reported revenue of more than $700 million, more than double the year-earlier level, and net income of $177 million, up 171%. Growth came almost entirely from acquisitions. Those results preceded the Airtable closing and Miro announcement.
The distinction matters: buying businesses can expand reported revenue quickly, but does not by itself establish that existing products are gaining customers or becoming more competitive. Future results will provide a clearer view of how restructuring, pricing changes and product investment affect earnings across the enlarged portfolio.
Conclusion
The next confirmed milestones are completion of the Berkshire placement, subject to its closing conditions, and the planned fourth-quarter Miro closing. Subsequent earnings will show how the expanding portfolio performs beyond the immediate revenue contribution of acquisitions.
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This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.
