Evernote and WeTransfer owner Bending Spoons is set to buy Vimeo for $1.38 billion
Bending Spoons, the owner of Evernote and WeTransfer, is set to acquire Vimeo, a video hosting and streaming platform, for $1.38 billion. The all-cash deal will see Vimeo's shareholders receive $7.85 per share, significantly higher than the stock's previous closing price. Vimeo's directors have unanimously approved the takeover, which is expected to close by the end of the year, pending shareholder approval, closing conditions, and regulatory approval. Vimeo, once seen as a competitor to YouTube, has shifted its focus towards business users, offering a platform that does not allow content scraping or generative AI models to train on its videos without the uploader's permission. Bending Spoons, known for its track record of gutting acquired companies, has previously bought Evernote and WeTransfer, where it subsequently laid off a significant number of employees.
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