Vimeo

Vimeo was spun off from US media and internet company IAC in May 2021. It is a platform that offers subscription-based professional live streaming, video creation, and video sharing. Vimeo offers a video messaging tool “Vimeo Record” for remote teams (launched in October 2020). Vimeo Record allows users to record and share instant videos of themselves, their screen, or both directly from the browser. Subsequently, team members can share feedback as comments on the video, and the video host will be notified about views and comments. Furthermore, recordings can be organized in folders for easy access. Potential use cases for the tool include sharing product demos, training and onboarding, and project reviews.

It introduced a video hub for enterprises in May 2021 on the back of 100% YoY revenue growth from enterprise customers in Q1 2021. The tool, which is natively integrated with Zoom, is expected to act as a centralized hub to facilitate recording, sharing, and discovering videos across various teams. Users can find content using keyword searches, and Vimeo will automatically transcribe live and pre-recorded videos. 

Vimeo announced agreements to acquire Wibbitz (an AI-based video editing and management platform) and London-based Wirewax (an interactive video creation platform) for an undisclosed amount in November 2021. The companies had raised a combined USD 37 million at the time of the announcement. Vimeo intends to incorporate interactive applications and tools to help media teams manage large video libraries from Wirewax and Wibbitz respectively. 

In January 2021, the company raised USD 300 million in equity funding at a valuation close to USD 6 billion, approximately doubling its previous valuation. The funding came in two tranches: USD 200 million at a USD 5.2 billion pre-money valuation and USD 100 million at a USD 5.7 billion pre-money valuation. The funding round was led by T. Rowe Price Group Inc. and Oberndorf Enterprises LLC. This round follows Vimeo's USD 150 million equity financing in November 2020. The fresh capital will be allocated toward talent acquisition, innovation, and growth-related investments. 

In FY 2020, Vimeo recorded revenue of USD 283 million, reflecting 44% YoY growth. The increase in revenue was driven by a combination of growth in subscribers to 1.4 million (+26% YoY) and higher average revenue per user (+14% YoY). In addition, the company cited that the rising number of enterprise customers to 3,800 (+81% YoY) also contributed to the revenue growth, increasing its share of total revenue to 23% from 17% in the previous year.