Today, Vimeo, the world’s largest ad-free open video platform, announced an agreement to acquire Livestream. Livestream offers live video solutions powering over 10 million events a year with nearly 50 million viewers each month. Founded in 2004, Vimeo has over 60 million members in over 150 countries.
The move hopes to position Vimeo as the most complete video workflow on the market for businesses, organizations and professional creators, from live streaming to hosting, distribution and monetization.
“Live streaming is the #1 request from our creator community this year, and we’re focused on bringing a new level of quality, convenience and craft to this evolving medium,” said Anjali Sud, CEO, Vimeo. “With the launch of Vimeo Live and the addition of Livestream’s impressive team and innovative product suite, we can empower a diverse range of creators to produce beautiful live experiences with professionalism and ease. We are excited to take a leadership role in this large and growing market, and look forward to quickly making our mark.”
Livestream Co-Founder and CEO, Mark Kornfilt adds, “We’re thrilled to join Vimeo’s world-class platform, where we can accelerate the adoption of professional-quality live video by combining our tools and capabilities with Vimeo’s video expertise and global scale. Together, we will be able to go faster and further in making live video a truly ubiquitous form of communication for businesses and organizations.”
Vimeo states “Strategically, the acquisition bolsters Vimeo’s end-to-end video workflow capabilities by combining Livestream’s proprietary live streaming hardware and software products with Vimeo’s powerful video technology to empower event creators to capture, edit, broadcast, and archive live events with a singular home for video workflow. This news comes at a time when live is the most-requested feature from Vimeo customers and the addressable market continues to grow rapidly.”
Through Vimeo Live, streamers can broadcast live in 1080p through cloud transcoding and adaptive streaming to be able fit anyone's bandwidth. Once recorded live videos on Vimeo can be replaced with 4k files for non-live viewing. Going further, the Vimeo Live player is fully customizable and can even be embedded. Additionally with the power of Livestream, future users will be able to syndicate their streams across multiple platforms like Facebook, YouTube, Twitch and Twitter.
With this acquisition Vimeo will now offer both software and hardware solutions. Through Livestreams streaming hardware like the Mevo and live switcher Studio, Vimeo will now offer an solution from beginning to end.
The acquisition is expected to close early in the fourth quarter of 2017.