Berkshire Hathaway adds $330mn to stake in tech group Bending Spoons

Berkshire Hathaway has ploughed a further $330mn into Bending Spoons, sending shares in the the technology conglomerate that owns AOL, Eventbrite and Vimeo soaring.

The new investment takes the Nebraska-based asset manager’s stake in Bending Spoons to 4 per cent, having invested $600mn in the tech group at its initial public offering in July.

Berkshire’s new investment is being conducted via a placement, with Bending Spoons issuing 10mn ordinary shares at a purchase price of $33 a share.

Shares in Bending Spoons surged 52.1 per cent in early Wall Street trading on Wednesday to $57.58, taking gains since its listing on the Nasdaq to about 99 per cent.

Bending Spoons chief executive Luca Ferrari hailed Berkshire as “among the finest and most respected capital allocators in the world”, describing it as a “longstanding inspiration” for the company.

“We were delighted to welcome Berkshire Hathaway as shareholders at our public listing, and we’re equally delighted to reinforce the partnership through this fresh investment, which underscores our mutual respect and excitement for what lies ahead,” Ferrari said in a statement.

This is a developing story