Bending Spoons: Berkshire is investing another $330 million in Komoot's parent company

Berkshire Hathaway will increase its investment in Bending Spoons by $330 million. The stake in the Italian technology company will be increased to four percent, Bending Spoon announced on Wednesday. Bending Spoons shares rise 35 percent.

The investment gives Bending Spoons more capital for acquisitions. The Milan-based company continues to expand its portfolio of digital companies. Berkshire had already invested $600 million in Bending Spoons when it went public in July.

In a private placement, Bending Spoons will issue 10 million common shares to Berkshire at $33 each. The transaction is subject to customary closing conditions, it said.

“Bending Spoons continues to evaluate M&A opportunities and our pipeline remains strong,” said Francesco Patarnello, co-founder of the company and head of corporate acquisitions. He explained the investment will provide greater financial flexibility to undertake further transactions.

Bending Spoons has built its business on acquiring other technology companies and optimizing their operations to increase profitability. His portfolio includes AOL, Komoot, Vimeo, Evernote, WeTransfer, Eventbrite and Airtable.