Vimeo's stock soared 55% after Berkshire increased its stake in the company

Shares of the Italian technology conglomerate Bending Spoons soared by nearly 55% in a matter of moments after Berkshire Hathaway announced on October 14 that it was making an additional $330 million investment in the company. Berkshire had previously invested $600 million in Bending Spoons during the company’s July IPO.

Thanks to these investments, Berkshire's stake in Bending Spoons increased to 4%—just three months after the investment firm backed the initial public offering of the Italian company, which specializes in acquiring troubled software developers.

New investments from Berkshire will provide Bending Spoons with additional capital for mergers and acquisitions (M&A), as the Milan-based company continues to expand its portfolio of digital assets, according to Bloomberg.

Bending Spoons will issue 10 million common shares to Berkshire at a price of $33 per share through a private placement. This price is nearly 13% below the company's stock price at the last close.

During trading on October 14, Bending Spoons shares surged nearly 55% at their peak—at the time of publication, their gains had slowed to 41%. Meanwhile, Berkshire shares rose 0.1%.

Bending Spoons has built its business on acquiring established technology companies and radically restructuring their operations to boost profitability, according to Bloomberg. The company’s portfolio includes platforms such as the news and entertainment website AOL, the video streaming platform Vimeo, the note-taking app Evernote, the large-file-sharing service WeTransfer, the event planning and ticketing platform Eventbrite, and the cloud-based project management database Airtable.

By increasing the profitability of the businesses it acquires using its own technology, data, and artificial intelligence, the company then reinvests the proceeds in new acquisitions. It has been following this strategy for more than ten years, according to the agency.

Berkshire CEO Greg Abel has recently stepped up investments in the technology sector—an area that, as his legendary predecessor Warren Buffett once said, he prefers to avoid. Late last year, the fund invested $10 billion in Google’s parent company, Alphabet, to support its developments in the field of artificial intelligence.

Since Bending Spoons went public in July 2026, its stock has risen 32.5%. Eight out of 12 analysts recommend buying the company’s stock, three are neutral, and one advises selling, according to MarketWatch.

This article was AI-translated and verified by a human editor