For over a decade Bending Spoons (NASDAQ: BSP) has been acquiring companies that were once highly valued and popular as the use of the internet and software became workplace and household staples but have been overlooked for newer tech businesses.
By the time Bending Spoons acquired AOL last October, the web portal and email provider had turned 40 years old but still maintained a customer base of eight million daily users and 30 million monthly active users and is valued at $1.5 billion.
While some investors were not familiar with Italian-based Bending Spoons, Berkshire Hathaway (NYSE: BRK), now run by CEO Greg Abel, had taken notice of the company’s strategy of acquiring iconic, mature tech companies that are still generating large amounts of cash flow, but are not as highly sought-after compared to its heyday.
When Bending Spoons went public in July, raising about $1.7 billion, Berkshire Hathaway invested $600 million in the tech company. The conglomerate, founded by former CEO Warren Buffett, made another investment of $330 million on Oct. 14.
The $930 million investment in Bending Spoons gives Berkshire Hathaway a 4% stake, demonstrating its confidence that the acquisitions made by the tech company will generate more growth and a higher profit margin.
“Berkshire’s decision to add to its position just a few months after the IPO and at these levels provides another vote of confidence in the Bending Spoons model from one of the world’s most respected long-term investors,” wrote analysts at Mizuho in a report.
Management at Bending Spoons said the goal of the company is not to divest these software companies in the future, but to generate higher revenue and cash flow from them, similar to the road map that Berkshire Hathaway has followed for several decades. Bending Spoons is laser-focused on only acquiring tech companies unlike the conglomerate.
Shares of Bending Spoons rose by 23% since it went public. The company reported revenue reached $704 million, up 126% from the second quarter of 2025, primarily driven by acquisitions. Bending Spoons’ operating income was $240 million, up 139% from the prior quarter while its net income grew by $112 million or 171%.
More deals planned
Bending Spoons plans to use the additional capital from Berkshire Hathaway to purchase additional companies.
The tech company’s strategy has been to buy software and digital subscription companies that generate consistent cash flow, turn them around to attract more customers and to grow revenue.
Bending Spoons has been more active in acquiring U.S. and European companies since 2024. In 2026, Bending Spoons purchased Tractive, a location tracking and health monitoring company for pets, and Airtable, a platform used to organize data and manage workflows, for $1.3 billion. Its latest deal is the September purchase of Miro, an AI workspace at an enterprise value of $1.35 billion. Miro produces $600 million in annual recurring revenue – nearly 90% of its clients are business and enterprise customers.
Bending Spoons ramped up its deals in 2025 by purchasing AOL, Komoot, a route planning and navigation app, Harvest, a time-tracking and professional services software provider, MileIQ, a mileage-tracking app, Vimeo, a video platform, and Eventbrite, a digital ticketing and event platform.
The company also owns Evernote, a note-organizing app, Remini, a photo-sharing app, Brightcove, a video streaming technology company, Meetup, a community-building platform, StreamYard, a live-streaming and recording company, and WeTransfer, a digital file-sharing and collaboration platform.
The company’s strategy since 2014 was to “speed up innovation, benefit customers, and strengthen business performance.”
Goldman Sachs estimates that Bending Spoons will generate a total revenue compound annual growth rate of approximately 36% from 2026 to 2031 from its current portfolio of companies and additional acquisitions in the future. The investment bank forecasts a 7% three-year compound annual growth rate on an organic basis.
As Bending Spoons makes changes and improvements to the products at its enterprise and subscription service software companies, additional customers could find these mature tech companies to be attractive again.
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