Video platform Vimeo announced on Wednesday that it has agreed to be acquired by Bending Spoons, one of Europe’s largest mobile app developers, in an all-cash deal valued at approximately $1.38 billion.
The deal is expected to close in the fourth quarter of 2025, subject to customary closing conditions and regulatory approvals. Vimeo will be delisted from exchanges once the deal closes.
The announcement comes as Bending Spoons was interested in a potential takeover of Vimeo as far back as March 2024.
“At Bending Spoons, 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,” said Bending Spoons CEO and co-founder Luca Ferrari in a press release.
“In particular, after closing, we’re determined to make ambitious investments in the US and other priority markets, and all key areas of the business, spanning both the creator and enterprise offerings,” he continued. “We’ll focus on achieving even more stellar levels of performance and reliability, bringing advanced features to more customers, and continuing to release powerful and responsible AI-enabled features.”
Bending Spoons has a pattern of acquiring companies, then laying off staff and cutting features. For example, Bending Spoons acquired note-taking and task management app Evernote in 2022, after which the company laid off most of its U.S. and Chile staff and moved operations to Europe in 2023. Evernote then shut down the Linux and older legacy versions of the app, and then proceeded to place heavy restrictions on the app’s free tier in 2024.
In another example, Bending Spoons acquired WeTransfer in July 2024 and then laid off 75% of its staff a few weeks after. A couple of months later, WeTransfer began limiting free users to 10 transfers per month.
Founded in 2004, Vimeo spun off from IAC (InterActiveCorp) in 2021, becoming an independent, publicly traded company. Since then, the company has lost almost 90% of its market value, prompting leadership to consider strategic options, according to Bloomberg.
Vimeo CEO Philip Moyer said in the press release that Bending Spoons is committed to expanding Vimeo’s product across all segments, which include Self-Serve, OTT/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 said.
