Vimeo Upgrades Its Content Platform With New Acquisitions
Vimeo has boasted year-over-year enterprise revenue growth over 60 percent and looks to use its new acquisitions to further fuel its growth.
Vimeo, one of the top all-in-one video software solutions for professionals, has announced a pair of acquisitions designed to expand its product offerings. The New York-based leading video software solution will acquire WIREWAX and Wibbitz to improve video collaboration, communication, and commerce solutions.
“Vimeo now serves over six thousand enterprises with our video software, and we’ve only just begun to unlock the myriad ways video can be used at work to communicate, collaborate and connect better,” said Anjali Sud, CEO, Vimeo.
“Both WIREWAX and Wibbitz bring industry-leading technology and products to Vimeo, along with impressive teams and deep institutional knowledge in strategic areas of enterprise video. Together, we’ll be able to innovate faster and go farther in empowering every company to realize the power of professional-quality video.”
WIREWAX is one of video content marketing’s most innovative brands powering the shift to viewer-centric technology and experiences.
The creative tool is trusted by more than 40,000 business customers like Disney, Nike, Walmart, NBC, and Salesforce to optimize their video content strategies. Its AI-based software will help Vimeo users create more engaging and measurable video content with shoppable touchpoints and customizable templates .
Wibbitz is another powerful solution that lets users take advantage of automation to quickly create, produce, and distribute engaging video content. Since it was founded in 2011, Wibbitz has grown its platform to become one of the top video creation tools for brands such as Bloomberg, HubSpot, Condé Nast, Panasonic, and Cox Media. With Wibbitz, Vimeo users will have the capability to efficiently collaborate and produce scaled brand videos.
For Vimeo, adding the two companies to its arsenal of features is an investment in the capabilities of its all-in-one platform. WIREWAX and Wibbitz give Vimeo’s platform the tools to better create interactive video experiences for businesses and customers.
“WIREWAX was built for the video-first future, evolving video to be a lean-in, fully engaging experience,” said Steve Callanan, CEO, WIREWAX.
“Marrying WIREWAX with Vimeo’s video leadership and global scale will put the power of next-generation interactive video into the hands of millions of users. It’s an exciting step to be joining Vimeo and contributing to helping organizations unleash their creativity and produce engaging experiences that drive better business outcomes, from shoppable videos to boost sales, to entirely new ways to improve training, education, and customer service.”
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“Wibbitz and Vimeo have a shared goal of making video creation so simple that any employee can easily and quickly make beautiful, professional-quality videos at scale,” said Zohar Dayan, CEO, Wibbitz.
“We have spent over 10 years honing our product to serve marketing, HR, and communications teams at some of the largest companies in the world, and are thrilled to join Vimeo’s world-class platform to accelerate the video transformation taking place across the enterprise.”
Around the world, Vimeo is used by more than 230 million users to create, manage, and grow their video strategies on a single platform.
The dual acquisitions will help empower the overall growth of the company, which eclipsed $100 million in quarterly revenue in Q3 2021. The transactions are expected to officially close this quarter to all Vimeo to welcome its newest partners at the start of 2022.