Berkshire Hathaway is doubling down on an unusual bet: a software holding company.
What’s happening:
- Berkshire Hathaway has committed to make a strategic investment of $330M USD in Bending Spoons (NASDAQ: BSP)
By the numbers:
- Bending Spoons will issue 10M common shares at a price of $33.00 USD per share as part of the new financing round
Why it matters:
- Bending Spoons is one of the largest publicly traded companies that is focused on acquiring and operating consumer and business software companies
Going deeper:
- Berkshire Hathaway previously invested $600M USD in Bending Spoons’ IPO and will own roughly 4% of Bending Spoons following their new investment
- Bending Spoons has been making a flurry of new acquisitions lately, including entering into deals to buy Miro and Airtable
Market reaction:
- Shares of Bending Spoons surged more than +41% following Berkshire Hathway’s investment
