Berkshire Hathaway invests over $900 million in Bending Spoons

The company is actively acquiring established software firms at significant discounts due to the "SaaSpocalypse," a trend where AI is displacing traditional SaaS products. Recent deals include the purchase of Airtable for about $1.3 billion and Miro for $1.36 billion, both far below their peak valuations. Bending Spoons announced that a large portion of Airtable's pre-acquisition team would leave with separation packages, continuing a pattern of cost-cutting seen at other portfolio companies like Evernote and Vimeo.

Unlike traditional private equity firms that seek exits, Bending Spoons aims to generate long-term profits by integrating and optimizing its acquisitions. CEO Luca Ferrari stated that the strategy focuses on finding value in undervalued enterprise software. In its first public earnings report, the company reported revenue over $700 million, more than doubling year-over-year, with net income climbing 171% to $177 million. Analysts note that while the model is unproven, it offers a distinct alternative to the struggling private equity sector in the current AI-driven market.