Vimeo, Inc. (VMEO) Stock Forecast

About the Company

Vimeo ( VIM-ee-oh) is an American video hosting, sharing, and services provider founded in 2004 and headquartered in New York City. Vimeo focuses on the delivery of high-definition video across a range of devices and operates on a software as a service (SaaS) business model. The platform provides tools for video creation, editing, and broadcasting along with enterprise software solutions and the means for video professionals to connect with clients and other professionals. As of December 2021, the site has 260 million users, with around 1.6 million subscribers to its services. The site was initially built by Jake Lodwick and Zach Klein in 2004 as a skunkworks project of CollegeHumor, taking inspiration from the photo sharing site Flickr launched earlier that year by Ludicorp. The project was organized as a division of CollegeHumor's parent, Connected Ventures, a startup formed by Ricky Van Veen, Josh Abramson, Lodwick and Klein. IAC acquired a 51% controlling stake in Connected Ventures in August 2006 for US$21 million. Following the acquisition of YouTube less than three months later for over US$1.65 billion, IAC directed more effort into Vimeo. Lodwick and Klein both departed by 2008 and IAC implemented a more corporate-focused structure to build out Vimeo's services. In May 2021, Vimeo became a standalone public company.

Sector

Technology

Industry

Services-Computer Programming, Data Processing, Etc.

Employees

702

Exchange

Nasdaq