Vimeo, once the internet’s most prestigious stage for independent filmmakers and animators, is being acquired by Milan-based app developer Bending Spoons in a $1.38 billion all-cash deal. The sale, expected to close later this year, will end Vimeo’s turbulent run as a public company.
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Bending Spoons CEO Luca Ferrari promised “ambitious investments” in Vimeo’s future, citing enterprise video services and AI-enabled features. But given the company’s track record — including significant staff cuts and restrictions at Evernote and WeTransfer — many in the creative community are skeptical.
Says something about Vimeo’s decline that I heard about them being acquired not from the tech news websites that I read all the time, but from Cartoon Brew in my RSS reader[…]
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