Evernote And Wetransfer Owner Bending Spoons Is Set To Buy Vimeo For $1.38 Billion

Vimeo is group to get a caller owner. Bending Spoons — nan genitor of Evernote, WeTransfer, Meetup and chap video streaming level Brightcove — plans to return nan institution into backstage ownership successful an all-cash, $1.38 cardinal deal. Stockholders will person $7.85 per share, rather a spot much than nan $4.82 Vimeo closed astatine connected Tuesday (the value jumped importantly aft nan announcement, of course).

Vimeo's board unanimously approved nan takeover. The acquisition is expected to adjacent by nan extremity of nan almanac year, pending shareholder approval, closing conditions and regulatory approval.

Once seen arsenic a competitor to YouTube, Vimeo has shifted focus complete nan 2 decades it's been around. It utilized to beryllium a go-to hosting action for filmmakers, but these days it's much oriented toward business users. Vimeo does not permit contented scraping aliases generative AI models to train connected immoderate video it hosts without nan uploader's permission, possibly making it an enticing video-hosting work for endeavor users. More recently, Vimeo started bringing backmost its TV apps, 2 years aft sidesplitting those disconnected successful an ill-advised move.

Bending Spoons, meanwhile, has a way grounds of gutting nan companies it takes over. It bought Evernote successful 2022 and laid off astir of nan note-taking service's workers nan pursuing year. Bending Spoons bought WeTransfer past twelvemonth and a fewer weeks later, it announced plans to occurrence three-quarters of nan file-sharing platform's staff.