Vimeo, the well-known video hosting service that has held a special place in the hearts of indie filmmakers and video professionals over the years as a preferred option for posting and sharing films and videos, has just announced that the company has entered into a definitive agreement to be acquired for approximately $1.38 billion.The acquiring company is the European software company Bending Spoon, which has a large portfolio of tech businesses, including WeTransfer, Meetup, Evernote, and more. The deal is reportedly an all-cash deal which will take Vimeo private, and—as is the case with most acquisitions—leaves several aspects of Vimeo’s future in question.Vimeo Acquired by Bending SpoonAnnounced on Vimeo’s blog and reported online, Vimeo CEO Philip Moyer sounds optimistic about the acquisition in terms of how Bending Spoons will handle Vimeo moving forward. "Bending Spoons has tremendous respect for the Vimeo team, our customers, and the creator community we serve. Luca and his team are committed to expanding our product across all segments: Self-Serve, OTT/Vimeo Streaming, and Vimeo Enterprise. We are excited about this partnership, which we believe will unlock even greater focus for our team and customers as we continue to strive towards our global mission to be the most innovative and trusted video platform in the world for businesses." — Philip Moyer, Vimeo CEO. And Bending Spoons’ CEO and co-founder, Luca Ferrari, has similar positive things to say about Vimeo and the reputation the brand has built over the years within the filmmaking community. “Vimeo is a pioneering...
Published By: NoFilmSchool - 3 days ago