Bending Spoons Buys Video Platform Vimeo for $1.38B
6 hours ago
- #acquisition
- #business
- #video-platform
- Bending Spoons acquires Vimeo for $1.38 billion in an all-cash transaction.
- Vimeo shareholders will receive $7.85 per share, a 91% premium over the 60-day average price.
- Vimeo's stock price surged 61% to $7.75 following the announcement.
- Vimeo has shifted focus from creators to business and enterprise users in recent years.
- Bending Spoons previously acquired Filmic and WeTransfer, laying off Filmic's staff in 2023.
- Vimeo's CEO Philip Moyer laid off 10% of staff last week.
- The deal is expected to close in Q4 2025, making Vimeo a private company.
- Bending Spoons plans to invest in Vimeo's US and global markets, focusing on performance and AI features.