Italy's Bending Spoons Acquires Vimeo for $1.38 Billion, Taking it Private

Italy's Bending Spoons, a leading tech firm renowned for acquiring and elevating digital products, has announced its acquisition of Vimeo for approximately $1.38 billion. This all-cash deal marks a pivotal moment for Vimeo, as it will transition to being a private company after more than four years on the public market.

With Bending Spoons poised to provide Vimeo's shareholders with $7.85 per share, this acquisition is viewed as an opportunity for revitalization. Luca Ferrari, the CEO of Bending Spoons, expressed ambition for Vimeo, emphasizing the company's intent to make significant investments in the platform’s creator and enterprise offerings. This strategic investment aims to enhance Vimeo's services and ensure its growth in an increasingly competitive landscape.

Vimeo has faced challenges in keeping pace with larger competitors like YouTube and TikTok, particularly as AI-driven video services gain popularity. The acquisition by Bending Spoons is therefore seen as a rescue mission, promising new life and direction for the iconic video-sharing platform.

Founded in Milan, Bending Spoons has a solid track record of acquiring and scaling diverse digital products, ranging from productivity apps to creator tools. The company recognizes Vimeo as a trailblazer in the video industry, boasting a vibrant community of creators and businesses worldwide. This acquisition reflects Bending Spoons' broader strategy to diversify its portfolio and solidify its standing within the digital video sector.