Vimeo To Be Acquired By Bending Spoons In $1.38b All-cash Deal

Video level Vimeo announced connected Wednesday that it has agreed to beryllium acquired by Bending Spoons, 1 of Europe’s largest mobile app developers, successful an all-cash woody weighted astatine astir $1.38 billion.

The woody is expected to adjacent successful nan 4th fourth of 2025, taxable to customary closing conditions and regulatory approvals. Vimeo will beryllium delisted from exchanges erstwhile nan woody closes.

The announcement comes arsenic Bending Spoons was willing successful a potential takeover of Vimeo arsenic acold backmost arsenic March 2024.

“At Bending Spoons, we get companies pinch nan anticipation of owning and operating them indefinitely, and we look guardant to realizing Vimeo’s afloat imaginable arsenic we scope caller heights together,” said Bending Spoons CEO and co-founder Luca Ferrari successful a press release.

“In particular, aft closing, we’re wished to make eager investments successful nan US and different privilege markets, and each cardinal areas of nan business, spanning some nan creator and endeavor offerings,” he continued. “We’ll attraction connected achieving moreover much stellar levels of capacity and reliability, bringing precocious features to much customers, and continuing to merchandise powerful and responsible AI-enabled features.”

Bending Spoons has a shape of acquiring companies, past laying disconnected unit and cutting features. For example, Bending Spoons acquired note-taking and task guidance app Evernote successful 2022, aft which nan company laid off astir of its U.S. and Chile unit and moved operations to Europe successful 2023. Evernote past shut down nan Linux and older bequest versions of nan app, and past proceeded to place dense restrictions connected nan app’s free tier successful 2024.

In different example, Bending Spoons acquired WeTransfer successful July 2024 and past laid disconnected 75% of its staff a fewer weeks after. A mates of months later, WeTransfer began limiting free users to 10 transfers per month.

Founded successful 2004, Vimeo spun disconnected from IAC (InterActiveCorp) successful 2021, becoming an independent, publically traded company. Since then, nan institution has mislaid almost 90% of its marketplace value, prompting activity to see strategical options, according to Bloomberg.

Vimeo CEO Philip Moyer said successful nan property merchandise that Bending Spoons is committed to expanding Vimeo’s merchandise crossed each segments, which include Self-Serve, OTT/Vimeo Streaming, and Vimeo Enterprise.

“We are excited astir this partnership, which we judge will unlock moreover greater attraction for our squad and customers arsenic we proceed to strive towards our world ngo to beryllium nan astir innovative and trusted video level successful nan world for businesses,” Moyer said.