Video platform Vimeo Announce On Wednesday, it had agreed to be acquired by Bending Spoons, one of Europe’s largest mobile app developers, with an all-cash transaction valued at approximately $1.38 billion.
The transaction is expected to be completed in the fourth quarter of 2025, but it will require customary closing conditions and regulatory approval. After the transaction is over, Vimeo will stand out from the exchange.
Declares to be a bent spoon for an interested Potential takeover of Vimeo As early as March 2024.
“When bending the spoons, we acquire companies, expect to own and operate them, and look forward to realizing Vimeo’s full potential as we reach new heights together,” said Luca Ferrari, CEO and co-founder of Bending Spoons. Press release.
“Especially after the end, we are determined to make ambitious investments in the U.S. and other priority markets and all key areas of the business, covering creators and businesses’ products,” he continued. “We will focus on achieving even better levels of performance and reliability, bringing advanced features to more customers and continuing to unleash the powerful and responsible AI-AI-EI-Sable capabilities.”
The bend spoon has the model of acquiring the company, then ruling the employees and cutting the features. For example, bend the spoon Get Notes and Task Management Application Evernote in 2022,after Company fired Most of its US and Chilean employees and moved to Europe in 2023. Turn off Linux and older versions The app, then continue Placement reliance limit 2024 on the free tier of the app.
In another example, bend the spoon Wetransfer obtained In July 2024, then fired 75% of employees A few weeks later. A few months later, Wetransfer started Limit free users to 10 transfers per month.
Vimeo, founded in 2004 Rotate from IAC (InteractiveCorp) In 2021, become an independent publicly traded company. Since then, the company has lost nearly 90% of its market value, prompting leaders to consider strategic options. Bloomberg.
Vimeo CEO Philip Moyer said in a press release that Bending Spoons is committed to expanding Vimeo’s products in all market segments, including self-service, OTT/VIMEO streaming and Vimeo Enterprise.
“We are excited about this partnership and we believe that as we continue to strive to be the most innovative and trusted video platform in the world, this will provide greater attention for our teams and customers,” Moyer said.
