Milan-based Bending Spoons scoops up Vimeo in €1.1 billion cash deal – will cuts follow?
Vimeo, the long-standing video platform born from the early days of internet creativity, is officially set to join the portfolio of Milan-based Tech conglomerate Bending Spoons in a deal valued at approximately €1.1 billion.
The acquisition, announced today, is expected to finalise in the fourth quarter of the year, pending regulatory approvals and shareholder consent. Once completed, Vimeo will be delisted from the stock exchange and become a privately held company.
“In particular, after closing, we’re determined to make ambitious investments in the US and other priority markets, and all key areas of the business, spanning both the creator and enterprise offerings,” said Luca Ferrari, CEO and co-founder of Bending Spoons. “We’ll focus on achieving even more stellar levels of performance and reliability, bringing advanced features to more customers, and continuing to release powerful and responsible AI-enabled features.”
Founded in 2013, Bending Spoons is mobile app developer known for acquiring brand-recognised digital platforms and reorienting them toward operational efficiency, often involving notable restructuring.
The deal places Vimeo alongside an expanding list of brands that includes WeTransfer, Evernote, Hopin, komoot, Meetup, and Remini – some of which have undergone notable organisational restructuring after acquisition.
In particular, WeTransfer saw 75% of staff laid off within weeks of the purchase. Although Bending Spoons has yet to confirm post-acquisition plans for Vimeo staff, the precedent could be cause for concern.
After acquiring Evernote in 2022, the company shuttered its US and Chile operations, moved its base to Europe, and cut support for legacy apps. Free tiers of both Evernote and WeTransfer were then limited significantly after staff reductions. These actions fuel speculation that Vimeo may be heading towards a leaner, more commercial model post-acquisition.
“After a disciplined review of strategic alternatives, the Board unanimously determined that this all-cash transaction delivers compelling, certain value to Vimeo shareholders and positions the company to accelerate its strategic roadmap as part of Bending Spoons,” said Glenn H. Schiffman, Chairman of the Board. “We’re confident they are the right long-term partner for our customers, employees, and brand.”
Bending Spoons recently raised more than €500 million in debt, as reported by EU-Startups, reportedly to finance this exact acquisition.
Founded in 2004, Vimeo became an independent, publicly traded company in 2021 after being spun off from Barry Diller’s IAC. Initially boosted by the remote work surge during the pandemic, the platform struggled to maintain that momentum post-2022. Since the spin-off, its market value has dropped nearly 90%, prompting Vimeo’s leadership to explore strategic alternatives.
Despite this, Vimeo still holds a prominent space in the video infrastructure market for businesses, particularly in OTT streaming and enterprise video services.
The $7.85 per share offered to Vimeo shareholders represents a 91% premium over the company’s 60-day volume-weighted average as of 9 September 2025.
“We are excited about this partnership, which we believe will unlock even greater focus for our team and customers as we continue to strive towards our global mission to be the most innovative and trusted video platform in the world for businesses,” said Philip Moyer, CEO of Vimeo. “Luca and his team are committed to expanding our product across all segments: Self-Serve, OTT/Vimeo Streaming, and Vimeo Enterprise.”
Once the deal closes, Vimeo’s capital stock will no longer be publicly traded. The company has also announced it will not hold an earnings call for Q3 2025 but will release written earnings results to fulfil its obligations during the transition period.
With Bending Spoons rumoured to be prepping for a potential IPO in the near future, the addition of Vimeo could significantly bolster its business offering in the US market – assuming it survives the chop.
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