Video platform Vimeo announced on Wednesday that it has agreed to be acquired by Bending Spoons, one of Europe’s largest mobile app developers. The all-cash deal is valued at approximately $1.38 billion.
The transaction 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 is finalized.
This announcement follows reports from March 2024 that Bending Spoons was interested in a potential takeover of Vimeo.
Bending Spoons CEO and co-founder Luca Ferrari stated that the company acquires businesses with the intention of owning and operating them indefinitely. He expressed a commitment to realizing Vimeo’s full potential. Ferrari also outlined plans to make ambitious investments in the US and other key markets after the deal closes. The focus will be on enhancing performance, reliability, and advanced features, including the continued development of responsible AI-enabled tools.
Bending Spoons has a history of acquiring companies and then implementing significant changes, including layoffs and feature reductions. For instance, after acquiring Evernote in 2022, the company laid off most of its staff in the US and Chile and moved operations to Europe. Evernote subsequently shut down its Linux and older legacy app versions and imposed heavy restrictions on its free tier in 2024.
In another example, Bending Spoons acquired WeTransfer in July 2024 and laid off 75% of its staff just a few weeks later. Months after that, WeTransfer began limiting free users to just 10 transfers per month.
Vimeo was founded in 2004 and spun off from IAC (InterActiveCorp) in 2021 to become an independent, publicly traded company. Since becoming a public company, Vimeo has lost nearly 90% of its market value, which prompted its leadership to consider strategic options.
Vimeo CEO Philip Moyer said that Bending Spoons is committed to expanding Vimeo’s product across all segments, including Self-Serve, OTT/Vimeo Streaming, and Vimeo Enterprise. He expressed excitement about the partnership, believing it will provide greater focus for the team and customers as they work towards their global mission.