Bending Spoons to Acquire Vimeo in $1.38 Billion Takeover

The European software firm Bending Spoons has agreed to purchase video hosting platform Vimeo for $1.38 billion, a deal that will take the company private by the end of the year. The acquisition follows a period of significant turbulence for Vimeo, which has struggled to compete with YouTube for nearly two decades.

Jun 9, 10:29· Corp and Tech· 3 reads

Vimeo, originally founded in 2004 as a spinoff of CollegeHumor, has pivoted its strategy in recent years toward enterprise services and creator monetization tools. Under CEO Philip Moyer, who took the helm last year, the company recently introduced AI-driven features to its suite. However, the transition has been marked by instability; just last week, Moyer announced a 10 percent reduction in the company's workforce.

Bending Spoons brings a controversial track record to this acquisition. The firm, which already controls companies such as Evernote, WeTransfer, and Meetup, has frequently implemented aggressive cost-cutting measures, including widespread layoffs and subscription price hikes, across its acquired businesses. Despite this reputation, Bending Spoons CEO Luca Ferrari stated that the company intends to own and operate Vimeo indefinitely, aiming to unlock the platform's full potential.

Bending Spoons to Acquire Vimeo in $1.38 Billion Takeover

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