Bending Spoons Acquires Vimeo in $1.38 Billion Deal as Video Platform Goes Private

Vimeo, the veteran video hosting and streaming service, is set to go private after reaching a definitive agreement to be acquired by European tech group Bending Spoons for $1.38 billion (£1.1bn).

The deal, announced this week, will see Bending Spoons purchase 100% of Vimeo’s outstanding shares in an all-cash transaction. Shareholders will receive $7.85 per share, a sharp premium compared to the platform’s previous closing price of $4.82. Vimeo’s stock surged following confirmation of the takeover.

Vimeo’s board of directors has unanimously approved the acquisition, which is expected to close by the end of the year, subject to regulatory approval, shareholder consent, and standard closing conditions.

Founded two decades ago, Vimeo was once hailed as a creative rival to YouTube, attracting filmmakers and independent creators with its high-quality video hosting. Over time, the company pivoted towards enterprise services, offering professional tools for video marketing, live events, and internal corporate communications.

The platform has also positioned itself as a defender of content rights, banning video scraping and prohibiting its content from being used to train generative AI models without the consent of creators. This stance has appealed to businesses seeking stronger safeguards around intellectual property and data protection.

In a recent reversal of strategy, Vimeo reintroduced its TV apps two years after scrapping them,  a decision that drew sharp criticism from users at the time.

However, the company’s future under Bending Spoons remains uncertain. The Milan-based firm, which also owns Evernote, WeTransfer, Meetup, and Brightcove, has faced scrutiny over its handling of past acquisitions. Evernote saw mass redundancies after its 2022 takeover, while WeTransfer announced plans to cut around 75% of its workforce just weeks after being acquired in 2024.

With Vimeo now under new ownership, industry analysts are watching closely to see how Bending Spoons will shape the platform’s workforce, operations, and long-term roadmap.