"In our nine years of covering video platform Vimeo, we have seen it win legal appeals related to copyright issues around pre-1972 music uploads, and the installation of CEO Anjali Sud in 2017. Most recently in January, the company persevered in a copyright lawsuit with major music labels. Today we learn that Vimeo has agreed to an acquisition by European digital technology company Bending Spoons."
"In this bundling, Vimeo joins previously acquired brands, including Evernote and WeTransfer. The deal will remove Vimeo from public trading and turn it into a privately held subsidiary. The bundle of Bending Spoons services has reportedly been used by a billion people around the world. Acquisition cost is pegged at 1,38 billion dollars."
Vimeo won legal appeals related to copyright issues around pre-1972 music uploads and installed CEO Anjali Sud in 2017. In January, the company persevered in a copyright lawsuit with major music labels. Vimeo has agreed to be acquired by European digital technology company Bending Spoons. The acquisition will remove Vimeo from public trading and make it a privately held subsidiary. Vimeo will join previously acquired brands including Evernote and WeTransfer within Bending Spoons' bundle. The bundle of Bending Spoons services has reportedly been used by a billion people worldwide. Acquisition cost is pegged at $1.38 billion.
Read at RAIN News
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