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Video hosting platform

Vimeo, Inc.
Vimeo Logo.svg
Type of business Public visitor

Type of site

 Video hosting service, Software-every bit-a-service
Available in English, Castilian, German, French, Japanese, Portuguese, Korean
Traded every bit
  • Nasdaq: VMEO
  • Russell 1000 component
Founded November 2004; 17 years agone  (2004-11)
Headquarters

New York City

,

U.s.
Expanse served Worldwide
Founder(s)
  • Zach Klein
  • Jake Lodwick
Key people Anjali Sud (CEO)
Products
  • Vimeo OTT
  • Vimeo Livestream
  • Vimeo Stock
  • Vimeo Enterprise
  • Vimeo Create
  • Vimeo Record
Revenue Increase 199.iv Million (2020)[1]
Employees 800+ (2021)
Subsidiaries
  • VHX
  • Vimeo Livestream
  • Magisto
URL world wide web.vimeo.com
Advert No
Registration Optional
Users 200 million[2]
Launched November 2004; 17 years ago  (2004-xi) [3]
Electric current condition Active

Vimeo, Inc. ([4]) is an American video hosting, sharing, and services platform provider headquartered in New York City. Vimeo focuses on the delivery of high-definition video across a range of devices. Vimeo's business model is through software equally a service (SaaS). They derive revenue by providing subscription plans for businesses and video content producers. Vimeo provides its subscribers with tools for video creation, editing, and dissemination, enterprise software solutions, likewise as the means for video professionals to connect with clients and other professionals. As of 2021, the site has 200 meg users, with effectually 1.six one thousand thousand subscribers to its services.

The site was initially built by Jake Lodwick and Zach Klein in 2004 equally a spin-off of CollegeHumor to share humor videos among colleagues, though put to the side to support the growing popularity of CollegeHumor. IAC caused CollegeHumor and Vimeo in 2006, and afterward Google had caused YouTube for over The states$1.65 billion, IAC directed more effort into Vimeo to compete confronting YouTube, focusing on providing curated content and high-definition video to distinguish itself from other video sharing sites. Lodwick and Klein eventually left by 2009, and IAC implemented a more than corporate-focused structure to build out Vimeo's services, with current CEO Anjali Sud having been in identify since July 2017. IAC spun off Vimeo as a standalone public company in May 2021.

History [edit]

Initial growth from CollegeHumor (2004–2009) [edit]

Vimeo was founded in November 2004 by Continued Ventures, the parent company of the humor-based website CollegeHumor, equally a side project of web developers Jake Lodwick and Zach Klein to share and tag short videos with their friends.[v] The idea for a video-sharing site was inspired later on CollegeHumor received a big number of views from a posted video prune of the October 2004 Saturday Night Live prove that included Ashlee Simpson's infamous lip-syncing incident.[6] The name Vimeo was created by Lodwick as a play on the words video and me.[6] As CollegeHumor was cartoon in audiences, Vimeo was put to the side while Lodwick and Klein focused on supporting the main CollegeHumor site. Vimeo's user base grew simply by a pocket-sized amount during the next few years principally by word-of-mouth.[five]

IAC, owned by Barry Diller, acquired a bulk buying of Connected Ventures in August 2006, as they were drawn past the success of CollegeHumor which was bringing around vi million visitors a month at the time.[vii] In reviewing the assets of Connected Ventures, IAC discovered the Vimeo property; this came at the same time that Google had purchased YouTube for The states$1.65 billion in October 2006.[five] [8] By the showtime of 2007, IAC had directed Lodwick, Klein, and Andrew Pile to work on Vimeo total time and aggrandize its capabilities.[5] To differentiate themselves from YouTube and other video sharing sites that had appeared since Google'due south buy, Vimeo was focused on the content creator with better upload tools, and better curation of content on the site rather than on popularity.[v] By October 2007, Vimeo was the offset video sharing site to offer loftier-definition content to users via Flash-based high-definition video playback.[five] [9] While IAC's conquering of Connected Ventures helped to target Vimeo's direction, the corporate nature of IAC created issues with many of the original staff of CollegeHumor and Vimeo.[6] Lodwick was planning to leave the company about the end of 2007, as he said that IAC'due south incorporation of business processes hampered their inventiveness, but was fired a few weeks before that point.[10] Klein left in early 2008.[11]

Developing high-definition content delivery (2009–2017) [edit]

Vimeo began rolling out a major redesign of its site in 2009 aimed to put the user'south focus on the video, which ultimately was completed by January 2012. The new version was aimed to characteristic the video playback as the cardinal focus of the design, contrasting with the numerous user interface elements that YouTube had within its layout at the time.[12] From 2008 to 2014, Vimeo had blocked the hosting of video game-related videos as they typically were longer than their normal content and took much of the site's resources. Vimeo did allow machinima videos with a narrative structure. The ban was lifted past October 2014.[13] [14]

In December 2014, Vimeo introduced 4K support, though information technology would merely allow downloading due to the low market place penetration of 4K displays at the time.[15] Streaming of 4K content launched the following year, along with adaptive bitrate streaming back up.[16] In March 2017, Vimeo introduced 360-degree video support, including support for virtual reality platforms and smartphones, stereoscopic video, and an online video series providing guidance on filming and producing 360-degree videos.[17]

Support for High-dynamic-range video upwardly to 8k was added in 2017,[18] and AV1 encoding in June 2019.[19]

Transition to a software provider (2016–2019) [edit]

Vimeo acquired VHX, a platform for premium over-the-meridian subscription video channels, in May 2016, afterward offering this as a service to its sites customers.[20] Vimeo acquired the existing service Livestream in September 2017 to eternalize its associated staff and engineering science, eventually integrated its streaming technology as Vimeo Live, some other service offering for its service subscribers every bit Vimeo OTT.[21]

Around 2016, Vimeo had expressed its intentions to enter into the subscription video-on-demand marketplace with its own original programming, with the intent of spending "tens of millions" on content to populate the service equally to compete with services similar Netflix. According to IAC CEO Joey Levin, some of the original programming would accept been from content creators already on Vimeo, paid for their material to be used on the service, thus reducing their own costs in producing content in comparison to Netflix.[22] However, by June 2017, Vimeo had scrapped this plan, recognizing that not only that they were far behind Netflix and others in this surface area merely that they likewise had by and large had far fewer potential viewers and that their ultimate goal, converting those viewers into customers of the site, would be difficult.[23] CEO Anjali Sud also said they knew they did non take the financial resources to compete with Netflix in terms of creating original content.[24]

On this motion, Vimeo decided to focus more than heavily on supporting its content creators and customers,[25] transitioning itself abroad from being simply a content-hosting or video-sharing website and motility into the software equally a service model.[26] According to Sud, Vimeo saw that the demand for online video services had shifted abroad from Hollywood productions and media producers and was gaining more than traction by large businesses, and merely every bit Vimeo had originally drawn attention from indie filmmakers at its first, they saw an opportunity to assistance with smaller businesses needed video sharing capabilities but lacking the resources to develop those internally.[25] The company introduced a number of tiers and services aimed for concern utilize atop their existing services. Vimeo no longer considered itself a competitor to YouTube or other video-sharing sites, and instead called itself "the Switzerland for creators", according to Sud. Creators were allowed to copy and share their videos to any other video-sharing site as long as they connected to employ Vimeo'due south video editing tools for preparing their creations.[27] In early 2017, Vimeo released collaborative review tools for its users, allowing them to privately share to other users to go feedback tied to individual frames of the video, thus keeping the video creation workflow entirely within the Vimeo service.[28]

Vimeo caused Magisto, an artificial intelligence (AI)-backed video creation service with over 100 million users, in April 2019. While the bargain'southward terms were not disclosed, the purchase was reportedly valued at $200 million.[29] Through the acquisition, Magisto'south staff were brought into Vimeo, and their existing userbase gained admission to Vimeo'south toolset. For Vimeo, they saw Magisto's engineering science helpful for smaller businesses that may not have the funds or skills to product professional person videos and could be aided past Magisto's technology.[thirty] [27] By February 2020, Vimeo launched Vimeo Create, the integration of Magisto'due south tools into the Vimeo platform to let its users easy create videos guided by AI agents from stock video footage offered by Vimeo and the users' ain sources.[31]

Transition to a standalone public visitor (2020–present) [edit]

In November 2020, spurred past growth in Vimeo's services due to the COVID-19 pandemic, IAC raised The states$150 million for Vimeo in anticipation of spinning off the subsidiary as its own company,[two] giving Vimeo a United states$2.75 billion valuation. IAC formally announced plans to spin off Vimeo as a public-endemic company in December 2020, with the process expected to shut past the second quarter of 2021. Vimeo would go the 11th company spun-out from IAC following this.[32] [33]

Another round of investment in January 2021 brought an additional The states$300 million, raising its full valuation to an estimated US$5 billion.[34] Vimeo's shareholders agreed to going public on May 14, 2021.[35] The company was fully spun out as its own entity on May 25, 2021, and started trading on Nasdaq under the ticker symbol VMEO.[36]

In November 2021, Vimeo acquired Wirewax and Wibbitz, an AI-based video creation platform.[37]

In March 2022, Vimeo announced that it would brainstorm limiting bandwidth to all users to 2 terabytes per calendar month, a charge per unit they approximate would affect merely 1% of all its users. Just prior to this modify, users of Vimeo had reported they had been approached to purchase higher tier accounts, but Vimeo apologized for this approach, and felt it was better to set the flat bandwidth rate. Going over this rate would non affect any videos the user had on the service, and they would piece of work with users to offer tiered options or to assist transition off Vimeo to other services if that was their pick.[38]

Corporate affairs [edit]

Leadership [edit]

Afterwards the departures of Lodwick and Klein, IAC brought in a more than corporate construction to the company. By Jan 2009, Dae Mellencamp joined IAC as general manager of Vimeo.[39] She served as CEO until March 19, 2012, when Kerry Trainor joined Vimeo every bit CEO.[40]

Around 2016, several loftier-level executives announced their deviation from Vimeo, including Trainor. IAC's CEO Joey Levin was named as interim CEO for Vimeo during its search for a new CEO.[41] Later a yr-long search, IAC promoted then general manager Anjali Sud as the CEO.[25] [42]

Production offerings and revenue structure [edit]

In contrast with other video-sharing sites, Vimeo does non utilise any advertizing either on its pages or embedded in videos.[43] [5] Instead, Vimeo sells its services and products to content creators for acquirement as a software as a service (SaaS) model.[44] The site offers a complimentary tier of services, limiting uploads to 500 megabytes a calendar week and with a cap on total data, while paid subscriber tiers, outset introduced in 2008,[45] requite the user higher weekly upload allowances and greater storage chapters.[five]

Starting effectually 2016, Vimeo has likewise shifted towards supporting businesses through its offerings. In September 2016 it introduced a Business organisation tier programme to permit for intra-business collaboration as well every bit for businesses to host informational videos for their customers.[46] With the acquisition of Livestream in 2017, Vimeo added another tier for Premium subscribers, offering unlimited uploads and streaming events through Vimeo Live.[21] Vimeo launched Vimeo Enterprise, a set of tools designed for big organizations that permit users to manage and share live and on-demand video across workspaces, in August 2019.[47] Vimeo established partnerships with Mailchimp, HubSpot, and Constant Contact marketing platforms to permit their clients to hands integrate Vimeo videos into mail and other promotional campaigns.[48] Vimeo as well partnered with TikTok to give TikTok commercial users admission to Vimeo's editing tools for video content.[49]

In addition to subscriptions, Vimeo has other revenue streams through additional services to its customers. Creators could sell access to individual videos since 2013, and later could offer subscription-based access in 2015, with Vimeo taking a 10% cut of the sales.[50] Vimeo has offered a video on demand service since 2015, assuasive its partners to sell Vimeo videos through their websites to their customers.[51] Via its VHX acquisition, Vimeo offers an over-the-top media service (OTT), Vimeo OTT, which Vimeo subscribers tin use to create custom mobile apps to provide on-need video to the app's subscribers, with Vimeo treatment the subscriptions, billing, and content delivery.[24] [52] In 2018, the site launched Vimeo Stock to let content creators to offering videos every bit stock footage to exist used past others.[53] [54] Vimeo Create was introduced in 2020 to allow users to create videos with the help of artificial intelligence.[31]

To further promote Vimeo as a habitation for professional video support, Vimeo opened a "For Hire" job marketplace in September 2019, allowing companies seeking professional person video services to freely post job requests for the site'due south users to browse and respond to.[55] Vimeo Record was launched in October 2020 to allow businesses to use recorded video messaging inside their company or with their clients to assistance in communications.[56]

Customer size [edit]

By December 2013, Vimeo had attracted more than 100 million unique visitors per month, and more than than 22 million registered users.[57] At this time, fifteen per centum of Vimeo's traffic came from mobile devices.[58] As of Feb 2013, Vimeo accounted for 0.11% of all Internet bandwidth, following far backside its larger competitors, video sharing sites YouTube and Facebook.[59] The customs of Vimeo includes indie filmmakers and their fans.[threescore] The Vimeo community has adopted the name "Vimeans," which references active members of the Vimeo community who engage with other users on a regular basis.[61]

In 2019, enterprise customers were Vimeo's fastest-growing segment in terms of revenue according to Glenn Schiffman, IAC's Chief Financial Officeholder.[47] [62] [43] CTO Mark Kornfilt said they had almost 1 million subscribers every bit of April 2019, making up a bulk of the business firm's US$160 million annual acquirement.[63] This had grown to over 1.2 million by March 2020,[64] and over US$200 million in almanac revenue,[65] The site had also obtained 175 meg registered users by April 2020.[65] and over 200 million past November 2020 attributed to increased employ of Vimeo due to the COVID-nineteen pandemic.[2] [33]

Prior to going public, the company had most ane.half-dozen 1000000 paying subscribers.[35]

Events [edit]

Vimeo launched its Vimeo Festival and Awards program in 2010, and held subsequent events every eighteen months. The Festival allows video creators to submit their films for a pocket-size fee for consideration across multiple categories. Typically more than 5,000 videos are submitted, and these are narrowed to a field of 1,000 for select approximate-panel to vote for winners across multiple categories. This culminates with a live awards presentation showing thewinning films in each category. Each category winner carries a cash prize and an overall best-in-evidence prize. Vimeo had established the Festival and Awards to help give video and filmmakers an opportunity to highlight their work on Vimeo's pages and gain potential piece of work from clients.[66] [67] [68]

In 2008, Vimeo launched its Staff Picks, highlighting videos in a special channel as picked by the company's employees as some of the all-time piece of work by its users.[69] This characteristic was expanded in 2016 to give special award to videos that the staff felt were "Best of the Calendar month" and "All-time of the Year", as well as calculation Staff Pick Premiere for newly added videos to the Staff Picks aqueduct.[seventy] In 2020, Vimeo invited previous Staff Picks recipients to create videos about their favorite small business owners and the impact of the COVID-nineteen pandemic equally part of its Stories in Identify program.[71]

Impacts in other countries [edit]

As of March 2021, Vimeo remains blocked in People's republic of china.[72]

Starting May 4, 2012, the site was blocked in India by some ISPs under orders from the Section of Telecommunications, without whatever stated reasons.[73] [74] Vimeo was blocked in Bharat in December 2014, due to fears that the website was spreading ISIS propaganda through some of its user-made videos.[75] However, on December 31, the site was unblocked in India.[76]

On January 9, 2014, Vimeo is blocked in Turkey without clear reasons.[77]

In May 2014, Tifatul Sembiring, Republic of indonesia'due south and so-Communications Minister, said on his personal Twitter account that video sharing site Vimeo would be banned. Citing Republic of indonesia'southward anti-pornography constabulary, passed in 2008, the minister said the site included displays of "nudity or nudity-similar features".[78]

Legal cases [edit]

In January 2019, the Commercial Courtroom of Rome adamant that Vimeo'south video-hosting platform played an "agile role" in copyright infringement and the posting of Italian television programs owned by media conglomerate Mediaset. Later Vimeo declined to remove over 2,000 copyrighted videos at the request of Mediaset, the company was forced to pay $9,700,000 in penalties.[79] [80] [81]

In 2009, Capitol Records/EMI sued Vimeo for copyright infringement based on user-uploaded videos, which Vimeo defended on the ground of the Digital Millennium Copyright Human activity (DMCA) prophylactic harbor provisions under 17 U.S.C. § 512. 2 rulings at the Southern District of New York in 2013 ruled primarily in favor of Vimeo, and the Second Excursion issued a Vimeo-favorable ruling in 2016.[82] Dorsum at the district court, Vimeo won another favorable ruling in May 2021.[83]

In June 2019, California pastor James Domen, founder of the "ex-gay" ministry Church United, sued Vimeo after the website, in 2018, removed 89 of his videos for violating its content guidelines. The videos expressed opposition to homosexuality and advocated so-called "conversion therapy".[84] [85] A federal courtroom dismissed Domen'due south suit in 2020,[85] [86] and the Second Circuit Court of Appeals affirmed the dismissal in 2021.[87]

After its acquisition of Magisto, Vimeo was sued by the state of Illinois in September 2019 for violations of the land'due south Biometric Information Privacy Human action (BIPA). The class-activity suit declared that Vimeo, via Magisto'south software, had automatically scanned and tracked specific individuals in the videos uploaded through the service, identifying their gender, age, and race, without prior consent as required by BIPA.[88] Vimeo asserted that the technology only used auto learning to identify areas in videos that equated to human faces, and that "Determining whether an area represents a human face or a volleyball does not equate to 'facial recognition'."[89] Vimeo besides affirmed that they, via Magisto, "neither collects nor retains any facial information capable of recognizing an individual".[89] Currently, the case remains pending in federal district court afterward Vimeo lost a bid to attempt to settle the suit.[90]

See also [edit]

  • Comparison of video hosting services

References [edit]

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External links [edit]

  • Official website Edit this at Wikidata
  • Business concern data for Vimeo:
    • Google Finance
    • Yahoo! Finance
    • Bloomberg
    • Reuters
    • SEC filings

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Source: https://en.wikipedia.org/wiki/Vimeo

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