Berkshire Hathaway invests $330 million in Bending Spoons, stake tops $900 million
Berkshire Hathaway just invested another $330 million in Italian software company Bending Spoons, bringing its total stake to more than $900 million.
This major show of confidence sent Bending Spoons's stock soaring 41%, bumping its market value up to around $30 billion.
Berkshire clearly believes in the company's knack for spotting and snapping up undervalued software businesses.
Bending Spoons net income up 171%
Even as many SaaS companies struggle in the AI era, Bending Spoons has been busy making bold moves, like buying Airtable for a bargain $1.3 billion and adding names like AOL, Vimeo, and Eventbrite to its portfolio.
These smart acquisitions helped boost its net income by 171%.
Unlike typical private equity firms that flip companies quickly, Bending Spoons focuses on long-term growth, even if that means tough calls like layoffs at acquired firms.
Analysts say this latest investment is a strong vote of confidence in their unique approach.