In other news, Vimeo's acquisition by Italian mobile app company Bending Spoons SpA reportedly fell through due to disagreements over the price. Vimeo, which separated from IAC Inc. in 2021, has seen its share price drop by over 90% since it began trading. Bending Spoons, which recently acquired Evernote Corp. and Meetup.com, is said to be looking for more acquisition opportunities after a fundraising round that valued the company at around $2.6 billion.
Key takeaways:
- Philip Moyer, a Google Cloud senior executive, has been named as the new CEO of Vimeo. He has previously worked at Alphabet, Amazon Web Services, and Microsoft, and has served as CEO of two financial technology firms.
- Vimeo's previous CEO, Anjali Sud, left the company less than a year ago. During her tenure, she acknowledged the company's growth challenges and initiated a shift from serving consumers to helping businesses.
- Vimeo recently launched Vimeo Central, an AI-driven safe video center designed for company executives and their teams, aimed at improving communication and team cohesion.
- Vimeo was reportedly in acquisition talks with Italian mobile app company Bending Spoons SpA, but negotiations broke down over pricing. Vimeo separated from IAC Inc. in 2021 and its share price has since fallen by over 90%.