Analysis
The Information reported Wednesday that Berkshire Hathaway is investing $330 million in Bending Spoons, according to The Information. The outlet's article is paywalled beyond the headline, so the deal's structure -- an open-market stock purchase, a private placement, or something else -- has not been disclosed publicly.
## A roll-up that just went public Bending Spoons has built its business by buying consumer and productivity apps and running them more efficiently rather than building new products from scratch. Pulse has tracked the company's two biggest recent deals: a $1.28 billion acquisition of Airtable and a $1.355 billion purchase of Miro, both completed in 2026. Earlier acquisitions over the past several years included Evernote, WeTransfer, Issuu, Remini and AOL. The company raised $710 million in October 2025 -- $270 million primary and $440 million secondary -- at an $11 billion pre-money valuation, with Baillie Gifford and Cox Enterprises participating, before going public on the Milan exchange in July 2026.
“Earlier acquisitions over the past several years included Evernote, WeTransfer, Issuu, Remini and AOL.”
Bending Spoons' model is closer to a software private-equity roll-up -- the kind Vista Equity Partners or Thoma Bravo run -- than to a traditional venture-backed startup, which makes a Berkshire Hathaway stake notable. Berkshire has historically avoided tech almost entirely outside of its long-standing Apple position, and has never been known for backing acquisitive software consolidators in Europe. A $330 million check is sizable in absolute terms but would be a rounding error against Berkshire's roughly $300 billion-plus cash pile, consistent with Berkshire treating this as an opportunistic equity purchase rather than a strategic bet.
What the headline figure misses is confirmation of timing and structure. Bending Spoons' Milan listing in July 2026 means any Berkshire position taken now would be buying into a stock with only a few months of public trading history -- not enough to establish a reliable track record, and still exposed to the kind of volatility that hits newly public names disproportionately. Berkshire is also not disclosed as a participant in any of Bending Spoons' prior private rounds, so this would mark a new relationship rather than a follow-on from an existing position.
The clearest independent confirmation, regardless of what either company says now, would be Berkshire's next 13F filing -- the regulatory disclosure that would show whether, and how large, a Bending Spoons position actually is.
