Vimeo Acquisition: Bending Spoons to Buy Vimeo for $1.38B

Vimeo to be Acquired by Bending Spoons for $1.38 Billion

Vimeo, the video platform, revealed on Wednesday an agreement to be acquired by Bending Spoons. Bending Spoons is a prominent mobile app developer based in Europe. The acquisition will be completed with an all-cash transaction, valued at approximately $1.38 billion.

Deal Timeline and Delisting

The completion of this deal is anticipated in the fourth quarter of 2025. This is contingent upon fulfilling standard closing requirements and obtaining necessary regulatory approvals. Following the deal's finalization, Vimeo’s listing on stock exchanges will be terminated.

Interest from Bending Spoons in acquiring Vimeo dates back to March 2024, indicating a period of negotiation and due diligence.

Bending Spoons' Vision for Vimeo

Luca Ferrari, CEO and co-founder of Bending Spoons, expressed the company’s long-term commitment in a press release. He stated that Bending Spoons acquires companies with the intention of sustained ownership and operation.

Ferrari further elaborated on their plans, stating, “We look forward to unlocking Vimeo’s complete potential as we achieve new milestones together.”

Investment Focus and Future Development

Post-acquisition, Bending Spoons intends to make substantial investments. These investments will be directed towards the U.S. market and other key regions. Focus will also be placed on all critical areas of the business.

The company plans to enhance Vimeo’s performance and reliability. They also aim to introduce advanced features to a wider customer base. Furthermore, the development and integration of AI-enabled features will continue, prioritizing responsible implementation.

Bending Spoons' Acquisition History and Practices

Bending Spoons has a history of acquiring companies, followed by restructuring efforts. These often include workforce reductions and feature streamlining.

In 2022, Evernote was acquired by Bending Spoons. Subsequently, in 2023, the majority of Evernote’s staff in the U.S. and Chile were laid off, and operations were relocated to Europe. Further changes included the discontinuation of Linux and legacy app versions, alongside restrictions on the free tier in 2024.

Similarly, WeTransfer was acquired in July 2024. A significant reduction in staff – approximately 75% – occurred shortly after. Following this, limitations were placed on free users, restricting them to 10 transfers per month.

Vimeo's Recent Performance and Spin-off

Vimeo was established in 2004 and became an independent, publicly traded company in 2021 after separating from IAC (InterActiveCorp). Since then, the company’s market value has decreased by nearly 90%.

This decline prompted the company’s leadership to explore strategic alternatives, as reported by Bloomberg.

Leadership Statements and Strategic Alignment

Philip Moyer, CEO of Vimeo, conveyed his enthusiasm for the partnership in the press release. He emphasized Bending Spoons’ commitment to expanding Vimeo’s product offerings.

These offerings encompass Self-Serve, OTT/Vimeo Streaming, and Vimeo Enterprise.

Moyer concluded, “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.”