Berkshire Hathaway’s $930M Bet Validates Bending Spoons’ AI-Era Software Revival Strategy

Key points

• Berkshire Hathaway invested a total of $930 million in Bending Spoons, including a recent $330 million stake that pushed the company’s market cap to approximately $30 billion.
• Bending Spoons acquired Airtable for $1.3 billion and Miro for $1.36 billion, both at significant discounts to their peak valuations, while announcing substantial layoffs at Airtable.
• The company’s model differs from traditional private equity by focusing on long-term operational improvements and profit generation rather than rapid exits, similar to the Berkshire Hathaway approach.
• Bending Spoons reported revenue exceeding $700 million and net income of $177 million in its first public earnings report, with growth driven primarily by acquisitions.
• The strategy exploits the 'SaaSpocalypse,' where AI advancements have devalued legacy software companies, allowing Bending Spoons to acquire assets at low prices and restructure them for profitability.

Background

Bending Spoons, founded in 2013 by Luca Ferrari, Matteo Danieli, and Francesco Patarnello, initially struggled with its mobile app Evertale before pivoting to an acquisition model. The company began acquiring tech brands in 2022 with Evernote, followed by Brightcove in 2024 and several major brands in 2025. Its July 2026 IPO raised $1.7 billion, marking its transition to a public entity focused on reviving undervalued software assets.

How outlets are covering it

CNBC highlights the strategic validation from Berkshire Hathaway and the operational challenges, including layoffs and price hikes for customers, as part of Bending Spoons’ profit-driven model. Yahoo Finance provides market data context, noting Bending Spoons’ stock closed at $47.07 after a volatile week, reflecting mixed investor sentiment despite the Berkshire investment. Analysts from Mizuho emphasize the uniqueness of Bending Spoons’ hands-on operational approach compared to traditional private equity firms, which have struggled with overvalued acquisitions.

Why it matters

Bending Spoons’ success could redefine the software acquisition landscape in the AI era, offering a viable model for reviving legacy tech assets that are struggling due to AI competition. Berkshire Hathaway’s significant investment signals confidence in this strategy, potentially influencing other investors and acquirers to adopt similar approaches in a market where traditional SaaS valuations have collapsed.

What to watch

Investors will monitor Bending Spoons’ upcoming earnings to assess whether its acquisition-driven growth can sustain profitability and operational improvements. The company’s ability to retain customers despite price increases and manage layoffs will be critical in determining the long-term viability of its model. Further acquisitions may follow as Bending Spoons continues to target undervalued software assets in the AI-impacted market.