Vimeo Sold: Italian Tech Firm Bending Spoons Acquires Video Platform For $1.38 billion

In the struggle for the attention of the web user, Vimeo has not been able to keep up for a long time compared to YouTube. Now an investor from Italy is buying the video platform, whereby it is open how the offer, which is now primarily aimed at professional users, is to continue.

Vimeo goes to controversial Italian company

Vimeo is taken over by the Italian technology company Bending Spoons based in Milan. The platform, which was once started as a YouTube alternative, is to be sold at a price of almost $ 1.38 billion or 1.2 billion euros, with $ 7.85 flowing for each share. After the takeover, Vimeo should no longer be traded on the stock exchange.

Before the sale on Bending Spoons, Vimeo had checked all strategic alternatives disciplined, it said. The service had recently increased more and more to serve a professional audience that consists of filmmakers and other creative customers. Vimeo was once the first operator of a video streaming platform in 2007, in which videos could be uploaded in high resolution.

Bending Spoons likes to increase the prices of his services

The company recently expanded its “Software AS A Service” offer (SaaS) and offers extended privacy settings and an ad-free player as part of its subscriptions. Vimeo did not always have it easy in the shadow of Google’s overpowering streaming service YouTube. Bending Spoons has now brought it to a market value of a market value of a good $ 2.5 billion with the purchase of various, often also battered web services.

The investor’s portfolio includes the Wetransfer file sharing service and the Note solution Evernote. As a result of the takeover of Evernote, some dubious decisions had been made for frustration among users. Bending Spoons not only released the entire US workforce and completely shifted the development of Evernote to Europe. On top of that, drastic price increases were carried out again and again, whereby apparently are again higher prices in the room that should be problematic even for many long -term customers.