- Berkshire Hathaway disclosed a $330 million stake in Bending Spoons on Wednesday, taking its total investment in the company above $900 million.
- Bending Spoons shares rose 41% on the news, though some gains were lost later in the week, leaving a market cap of about $30 billion.
- Bending Spoons agreed to buy Airtable for about $1.3 billion in August, almost 90% below its late-2021 peak valuation, and said a large portion of the pre-acquisition Airtable team will leave with substantial separation packages.
- Bending Spoons agreed last month to buy Miro, once valued at $17.5 billion, for $1.36 billion, extending its acquisition of out-of-favor software names.
- Intuit, HubSpot and Adobe are each down at least 30% this year as AI agents displace software products, a trend the article calls the SaaSpocalypse.
Quotes
“This is what private equity firms were planning to do but they got their nose bloodied”
“You're either like a hot thing or you're nothing”