The American platform Vimeo, long presented as the professional alternative to YouTube, will leave the rating after accepting a buy -off in cash from 1.3 billion euros of the Italian applications editor Bending Spoons. The operation will be done at a price of $ 7.85 per share, a premium of 91 % compared to the average price of the last sixty days.
A sawtooth trajectory for Vimeo
Founded in 2004 by Jake Lodwick and Zach Klein, Vimeo first appealed to creators with its quality of dissemination and its policy without advertising. Pioneer of high definition in 2007, the platform attracted a community of independent videographers, before becoming the first “premium” alternative against YouTube.
After its integration at IAC, Vimeo has multiplied technical innovations (4K, 360 °, HDR) and acquired several strategic bricks, such as Livestream for Live and Magisto for AI AI. Under the direction of Anjali Sud from 2017, the company abandoned the idea of a SVOD service and switched to a SaaS model intended for companies, with an offer oriented creation, dissemination and events.
The 2020 pandemic temporarily boosted its activity and enabled its IPO in 2021, valued nearly $ 5 billion. But this dynamic was quickly breathless, competed by YouTube and Tiktok, the company has lost almost 90 % of its value, forcing its management to explore strategic options.
Bending Spoons, an unknown European consolidator
Founded in 2013 in Milan by Luca Ferrari and his team, Bending Spoons stands out as one of the most powerful but the least known actors in European tech. The company claims more than 150 million monthly active users And $ 600 million in incomefrom a portfolio of a hundred applications.
Its model is based on targeted acquisitions of digital services, which it optimizes before giving them a new growth trajectory. Among its emblematic acquisitions are Evernote,, Splice,, Streamyard,, Wetransfer or the photo application Reminiused by more than 100 million people and has become one of the most popular generative AI products in the world.
“We are not a passive buyer. We reinvent the product, technology, marketing and organization to create more value, ”underlines Luca Ferrari. Each year, the company examines several thousand files but only invests in products where it can create a clear competitive advantage, often thanks to the integration of artificial intelligence.
A long -term offensive vision
Bending Spoons is continuing an ambitious expansion strategy, with acquisition tickets ranging from $ 50 million to $ 1.5 billion. The company has been financed up to 1.2 billion euros since its creation, promoting the company to more than 5 billion, and plans a IPO to the NASDAQ to finance future operations.
The acquisition of Vimeo is to complete a portfolio of productivity and creation tools with a recognized B2B video platform, in order to offer a coherent set ranging from the generation of content to its professional dissemination.
Reserves on integration methods
However, if the growth of Bending Spoons impresses, its methods arouse criticism. Several acquisitions, including Evernote and Wetransfer, have been followed by significant layoffs, sometimes drastically reducing the teams in place. This approach, perceived as brutal, feeds questions about the group’s ability to preserve the culture of bought societies and maintain a relationship of trust with employees.
