Berkshire Hathaway buys stake in Bending Spoons

Berkshire Hathaway invested over $300 million in Bending Spoons, an Italian technology company that acquires firms such as Evernote, Komoot, Tractive, and AOL to cut costs and optimize revenue. The investment brings Berkshire's stake to 4% of the company. The shares were purchased directly from Bending Spoons at a discount of $33 per share, slightly below the Tuesday closing price. Following the announcement, Bending Spoons stock surged 50%.

The deal provides Bending Spoons with new capital for further acquisitions. Bending Spoons' founders cite Henry Singleton, founder of Teledyne, as a major inspiration for their business model. Warren Buffett has described Singleton as having the strongest track record in American economic history for capital efficiency. The investment is viewed as a confidence boost for a company with an unconventional valuation model, though the $300 million amount is considered relatively small for Berkshire Hathaway.