Vimeo to Acquire Livestream
New York – September 26, 2017 – Cooley advised Livestream on its sale to Vimeo, the world’s largest ad-free open video platform. In conjunction with the acquisition agreement, Vimeo launched Vimeo Live, allowing users to live stream through its platform for the first time. Cooley partner Adam Dinow led the team advising Livestream.
“We’re thrilled to join Vimeo’s world-class platform, where we can accelerate the adoption of professional-quality live video by combining out tools and capabilities with Vimeo’s video expertise and global scale,” said Livestream co-founder and CEO Mark Kornfilt in a news release. “Together, we will be able to go faster and further in making live video a truly ubiquitous form of communication for businesses and organizations."
Following the completion of the acquisition, Vimeo hopes to offer the most complete video solution in the market, integrating its powerful video technology with Livestream’s proprietary hardware and software products, production services and enterprise-level features.
Founded in 2004, Livestream hosts nearly 50 million viewers each month who tune in to watch hundreds of thousands of broadcasted events in real-time. Customers include Dow Jones, Philadelphia Eagles, Tough Mudder and Spotify.
Vimeo, an IAC operating business based in New York City, empowers video creators to tell exceptional stories and connect with their audiences and communities. The platform hosts more than 60 million members in 150+ countries.
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