Vimeo, the ad-free open video platform, has confirmed an agreement to acquire Livestream, the live video solution that powers over 10 million events a year. Vimeo has also rolled out its own Vimeo Live product, offering live streaming capabilities directly through its platform for the first time.
Following completion of the acquisition, Livestream’s offering will be integrated with Vimeo to empower creators to capture, edit, stream, and archive live events, as well as host, distribute and monetise videos, all in one seamless workflow.
“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 provides businesses and organisations with a powerful solution for connecting with their audiences in real-time. Nearly 50 million viewers tune in to hundreds of thousands of live events powered by Livestream each month from customers including Dow Jones, Philadelphia Eagles, Tough Mudder and Spotify.
Livestream Co-Founder and CEO, Mark Kornfilt added: “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 organisations.”