MILAN, Italy — As artificial intelligence sends shock waves through the global software industry, an unlikely winner is attracting the attention of one of the world’s most powerful investment companies.
Bending Spoons, a Milan-based technology group known for acquiring established digital businesses and aggressively restructuring their operations, has secured another $330 million investment from Berkshire Hathaway, bringing the American conglomerate’s total investment to approximately $930 million.
The deal, announced October 14, 2026, gives Berkshire a 4% ownership stake in Bending Spoons, which made its Nasdaq stock market debut just three months earlier.
For a company that began acquiring and transforming mobile applications, the backing represents a significant vote of confidence in a business model built around purchasing established software platforms, improving their financial performance and holding them for the long term.
The strategy has become particularly relevant as investors question the future of traditional software companies in an era increasingly dominated by artificial intelligence.
Bending Spoons now controls a growing collection of recognizable digital brands, including AOL, Evernote, Vimeo, Eventbrite, WeTransfer and Airtable.
But beneath the ambitious acquisition strategy lies a controversial question: Can Bending Spoons revive these businesses through better technology and more efficient operations without undermining the employees, customers and communities that made them valuable in the first place?
Berkshire Hathaway Increases Its Investment to $930 Million
Berkshire Hathaway’s latest investment follows an earlier $600 million commitment made during Bending Spoons’ initial public offering in July 2026.
The additional $330 million will be provided through a private placement involving 10 million newly issued ordinary shares priced at $33 each.
Following the investment, Berkshire’s ownership is expected to reach approximately 4%.
The transaction was announced subject to customary closing conditions.
The additional capital is intended to give Bending Spoons greater financial flexibility to pursue acquisitions and support its broader expansion plans.
The backing is particularly notable because Berkshire Hathaway has long been associated with investing in companies that demonstrate durable economics, disciplined management and the ability to generate returns over many years.
Under chief executive Greg Abel, who succeeded Warren Buffett in leading Berkshire, investors are closely watching how the conglomerate deploys its substantial financial resources.
Bending Spoons offers a business model with some similarities to Berkshire’s long-term ownership philosophy, although the companies operate in different industries and use different financing approaches.
Bending Spoons chief executive and co-founder Luca Ferrari described Berkshire as an inspiration for the company’s approach to capital allocation.
However, the investment does not mean Berkshire has acquired control of Bending Spoons or guaranteed the success of its future acquisitions.
Bending Spoons Shares Surge More Than 40%
Investors responded enthusiastically to news of Berkshire’s expanded stake.
Bending Spoons shares climbed approximately 40% in early trading on October 14, reflecting market optimism about the new capital and Berkshire’s involvement.
According to Dow Jones reporting, shares rose as high as approximately $54.45 during the session.
The rally was notable because Berkshire agreed to buy its additional shares at $33 each, below the stock’s previous market price.
That discount illustrates the distinction between a negotiated private placement and purchases made on a public exchange.
The market reaction reflected investor expectations that Bending Spoons could use the additional financing to accelerate its acquisition strategy.
However, the share-price increase should not be described as a permanent gain.
Stock prices can change substantially after the announcement of a major investment, particularly when valuations rise rapidly.
The company’s long-term performance will depend on earnings, cash flow, debt management and the success of its acquired businesses.
How Bending Spoons Makes Money From Older Software Brands
Bending Spoons operates differently from conventional technology startups.
Instead of relying primarily on developing entirely new products and expanding them organically, the company acquires established digital platforms with recognizable brands and existing users.
It then attempts to improve their performance through changes in management, technology, marketing, pricing and product development.
The company’s portfolio includes businesses operating across consumer applications, professional software, online events, video platforms and digital services.
Among its best-known brands are Evernote, AOL, Vimeo, Eventbrite, WeTransfer and Airtable.
Some were once among the most prominent names in the technology industry.
Others developed substantial business customer bases but faced challenges translating their popularity into sustainable financial results.
Bending Spoons believes those businesses can create greater value under a more disciplined operating structure.
The company says its goal is to acquire businesses, improve earnings and reinvest the returns into additional acquisitions.
It also emphasizes long-term ownership rather than routinely selling acquired businesses after restructuring.
According to its official statements, Bending Spoons has not sold a material business during its more than decade-long acquisition history.
This creates a model in which existing software brands can become building blocks for a larger technology group.
Airtable Acquisition Reveals the Company’s Strategy
One of Bending Spoons’ most significant recent purchases was Airtable, a software platform used by businesses to organize data, manage projects and create customized workflows.
The acquisition was completed on September 4, 2026.
The original agreement valued Airtable’s business at approximately $1.285 billion on an enterprise-value basis.
That figure differs from the approximately $2.25 billion implied equity value, which included Airtable’s net cash position.
The distinction is important when comparing acquisition prices.
Enterprise value and equity value measure different aspects of a transaction and should not be treated as interchangeable.
Airtable had previously been regarded as one of the world’s most promising private software companies.
Its platform attracted a broad range of customers, including major corporations.
Bending Spoons said Airtable’s annual recurring revenue was approximately $480 million as of June 2026, growing more than 20% year over year.
The acquisition gave Bending Spoons control of a substantial enterprise software platform with opportunities to expand artificial intelligence tools and automation capabilities.
But the takeover also introduced concerns about how aggressively the new owner would restructure the company.
Airtable Job Cuts Spark Controversy
On October 12, Airtable’s new product leadership announced that a large portion of the company’s pre-acquisition team would leave.
The company said affected employees would receive substantial separation packages.
Bending Spoons explained that it intended to build a smaller organization supported by experienced employees from its broader technology group.
Management argued that streamlined responsibilities and faster decision-making would help accelerate product development.
The company also outlined plans to improve Airtable’s core features, AI tools, infrastructure performance and enterprise administration capabilities.
However, the decision raises legitimate concerns about the consequences of acquisition-driven restructuring.
Workforce reductions can reduce costs and simplify operations, but they may also disrupt teams, remove institutional knowledge and affect morale.
Airtable said customers’ existing plans, prices and service offerings would remain unchanged immediately following the restructuring announcement.
The long-term impact on product quality and customer satisfaction remains to be seen.
For Bending Spoons, the challenge is proving that its leaner operating model can deliver sustainable improvements rather than simply producing short-term cost savings.
Revenue More Than Doubles as Acquisitions Drive Expansion
Bending Spoons’ financial performance has attracted increasing attention.
The company reported approximately $704 million in second-quarter 2026 revenue, representing growth of around 126% from the previous year.
Net income reached approximately $177 million, according to reporting on its first results as a publicly listed company.
Those figures demonstrate significant expansion.
But much of the revenue increase resulted from acquisitions rather than rapid growth across businesses already owned for comparable periods.
Independent financial analysis has placed organic revenue growth at approximately 3%.
That distinction is essential for investors.
A company can increase total revenue dramatically by acquiring additional businesses, even when the underlying businesses are growing at much slower rates.
Acquisition-driven growth can create value if purchases are made at attractive prices and the resulting cash flows justify the capital invested.
But it also depends on the availability of suitable acquisition targets and continued access to financing.
Investors will therefore need to evaluate the company’s operating margins, debt levels, cash generation and growth excluding acquisitions.
Headline revenue growth alone does not establish the success of the strategy.
Miro Becomes the Next Billion-Dollar Target
Bending Spoons is continuing to expand its portfolio.
On September 10, the company announced a definitive agreement to acquire Miro, a collaborative digital whiteboard and visual workspace platform, for approximately $1.355 billion.
Miro is used by teams for brainstorming, planning and visual collaboration.
The proposed acquisition would add another widely recognized enterprise software product to Bending Spoons’ collection.
However, the transaction had not been confirmed as completed by October 21.
The companies said the acquisition was expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary conditions.
Until completion, Miro and Bending Spoons remain separate businesses.
The distinction matters because an announced acquisition agreement does not necessarily guarantee that the transaction will close on the expected schedule.
The Miro agreement demonstrates Bending Spoons’ ambition to become a major owner of business software platforms.
It also creates additional questions about how the company will integrate acquired products while controlling costs and protecting customer relationships.
Artificial Intelligence Creates Both Opportunity and Threat
The expansion comes during a period of significant disruption across the software industry.
Artificial intelligence is changing how businesses develop applications, automate work and purchase technology services.
Some investors fear that AI-powered tools will weaken demand for traditional software products by making certain functions easier or less expensive to reproduce.
Those concerns have contributed to valuation pressure across parts of the software market.
Bending Spoons sees opportunity in the disruption.
The company can potentially acquire established software businesses at valuations below their previous market expectations and then introduce AI-enabled features to improve their usefulness.
At Airtable, management has announced plans to enhance its Omni AI assistant, introduce more advanced agent capabilities and strengthen tools for enterprise customers.
Bending Spoons also says AI can help improve operations across its wider portfolio.
However, AI technology does not guarantee that every acquisition will succeed.
Businesses must still offer products customers are willing to pay for, retain users and maintain reliable services.
The durability of traditional subscription software businesses remains an open question as AI capabilities continue expanding.
Berkshire’s Investment Is a Bet on Management, Not Just Software
The most distinctive aspect of Berkshire Hathaway’s investment may be its confidence in Bending Spoons’ operating model.
The Italian company does not rely on one dominant product.
Instead, it seeks to develop a repeatable system for buying, restructuring and operating multiple digital businesses.
That resembles the investment philosophy of holding companies that allocate capital across a portfolio of businesses.
But there are significant differences between Bending Spoons and Berkshire.
Berkshire has substantial insurance operations and large amounts of internally generated capital.
Bending Spoons operates in fast-changing technology markets and has used borrowing alongside equity financing to support its acquisitions.
This introduces exposure to interest rates, refinancing conditions and acquisition execution.
A business model that performs well while capital is readily available may encounter difficulties if borrowing becomes more expensive.
For investors, the key question is whether Bending Spoons can consistently improve the financial performance of its acquisitions enough to justify the prices paid and the financing required.
What the Strategy Means for Software Customers
Bending Spoons’ acquisition strategy matters to more than shareholders.
Many of the company’s products are used by consumers, small businesses and professional teams.
Evernote supports digital note-taking and productivity.
Vimeo serves video creators and businesses.
Airtable helps organizations manage data and workflows.
Eventbrite provides event management and ticketing services.
WeTransfer supports file sharing.
Changes to these platforms can affect how customers work, collaborate and pay for services.
Under new ownership, users may gain access to improved performance, new features and stronger AI capabilities.
But they may also encounter changes to subscriptions, product functionality, customer support or long-term development priorities.
Bending Spoons says it intends to improve products and create lasting value.
Whether those intentions produce better experiences will depend on measurable outcomes, including reliability, affordability, customer retention and product innovation.
Why the Story Matters for the Philippines and Asia
The rise of Bending Spoons has implications for technology businesses across Southeast Asia.
Many Philippine companies use subscription software for document management, marketing, video production, events and internal operations.
Some of these services are provided by brands within Bending Spoons’ portfolio.
Changes in ownership can influence product pricing, customer support and future features.
For local technology founders and investors, the company’s strategy also illustrates an alternative business model.
Rather than building a new startup around a single breakthrough idea, an investor can acquire established digital products and attempt to improve their profitability.
However, such a strategy requires substantial capital, technical expertise and disciplined management.
Aggressive cost-cutting can undermine the value of a business if it harms the customer experience or weakens its ability to innovate.
The important lesson is that acquiring a recognizable software brand is only the beginning.
Long-term success depends on maintaining the reasons customers continue using the product.
The Bigger Question: Can Bending Spoons Keep Growing Without Breaking What It Buys?
Berkshire Hathaway’s $930 million investment has placed Bending Spoons in the international spotlight.
The Italian company has assembled a portfolio of familiar software brands and developed a strategy centered on acquisitions, operational improvements and long-term ownership.
Its revenue is expanding rapidly, and Berkshire’s backing provides additional financial flexibility.
But the model faces serious tests.
The restructuring of Airtable has raised concerns about workforce reductions.
Acquisition-driven growth depends on continued access to attractive deals.
Borrowing creates financial obligations, while AI disruption can change the economics of software businesses.
And customers will ultimately decide whether the products improve under their new owner.
Bending Spoons is betting that some of the technology industry’s overlooked brands still have enormous value. Berkshire Hathaway has placed nearly $1 billion behind that vision. But the bigger question is whether the company can transform struggling software businesses into lasting winners—or whether its aggressive pursuit of efficiency will eventually test the loyalty of the customers and employees who built them.
