Vimeo to be acquired by Bending Spoons in $1.38B all-cash deal

Vimeo, the well-known video platform, has announced a significant development as it prepares for acquisition by Bending Spoons, one of Europe’s leading mobile app developers, in a cash transaction estimated at around $1.38 billion. The acquisition is anticipated to finalize in the fourth quarter of 2025, pending standard closing conditions and regulatory approvals. Following the completion of the deal, Vimeo will be removed from public exchanges. This acquisition comes after Bending Spoons expressed interest in Vimeo as early as March 2024. Luca Ferrari, CEO and co-founder of Bending Spoons, stated in a press release, "We acquire companies with the expectation of owning and operating them indefinitely, and we look forward to realizing Vimeo’s full potential as we reach new heights together." He emphasized the company's intention to invest significantly in the U.S. and other key markets, focusing on both the creator and enterprise sectors of the business. Bending Spoons has a track record of acquiring companies, often leading to staff layoffs and feature reductions. For instance, after acquiring the note-taking app Evernote in 2022, the company laid off most of its U.S. and Chilean workforce and relocated operations to Europe in 2023. Subsequently, Evernote discontinued its Linux support and older app versions while imposing strict limitations on free-tier users in 2024. Similarly, after purchasing WeTransfer in July 2024, Bending Spoons reduced the workforce by 75% shortly after. Vimeo, which became an independent publicly traded company in 2021 after spinning off from IAC (InterActiveCorp), has witnessed a staggering decline of nearly 90% in its market value, prompting leadership to seek strategic alternatives. Vimeo’s CEO, Philip Moyer, expressed optimism about the partnership, stating that Bending Spoons is dedicated to enhancing Vimeo’s offerings across all segments, including Self-Serve, 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," Moyer remarked.