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| Vimeo became an independent company after its boom |
After developing the Vimeo platform for hosting, sharing and serving videos during the pandemic, Vimeo has become an independent public company.
Shortly after its inception, Vimeo was owned by IAC, a large technology and media company with brands in 100 countries, mostly in the media and online.
The IAC expects Vimeo to complete its transformation into an independent public company in the second quarter of 2021.
IAC CEO Joy Levine said in a press release: It is time for Vimeo to spread its wings and become a large independent public company.
The department aims to help Vimeo raise funds to increase investment in its products and sales opportunities.
Vimeo was established in 2004 and it has always offered the most professional alternative to its main competitor YouTube.
The paid members can use the platform to customize the video player, set a password to protect the video, integrate it with Google Analytics and manage the accounts of several team members and others. You may need feature teams and individual professionals.
Content creators can also offer movie rental and purchase services through Vimeo. Vimeo is not focused on video discovery like the YouTube platform. So the free plan has major restrictions that it cannot reach the same level as YouTube.
Vimeo announced that it currently has 200 million users and that it will grow rapidly through 2020.
Vimeo CEO Anjali Sood wrote last month: In the past seven months, we have attracted more than 30 million new users, watched more than 60 million new videos and supported millions of live broadcasts. The activity is the first time that it has been digitized.
According to CNBC reports, Vimeo raised $ 150 million in November, raising the company's market value to $ 2.75 billion.
Vimeo financing can help build new team tools, develop richer features for live events, integrate with more external platforms, and create other new tools.
"We are ready to enter a new era, and we are determined to make video easier and more efficient than ever before," Sood said in a press release.