Video-sharing company Vimeo has agreed to acquire Livestream. The IAC subsidiary has also announced the launch of Vimeo Live, its first attempt to allow users to capture, edit, stream and archive live events. The company plans to integrate Livestream’s live-video offering into the new standalone service.
Vimeo has a lot of ground to cover in the streaming video space. Its chief competitors—including YouTube, Facebook, Twitter, and Twitch—all offer some form of live streaming. The acquisition could help give Vimeo a leg up: Some 50 million users watch live events powered by Livestream each month from the likes of Tough Mudder, Spotify and the Philadelphia Eagles. Founded in 2008, Livestream has raised about $15 million in equity funding, including $10 million from news organization Gannett.
PitchBook users can view Vimeo’s M&A activity.
Article by PitchBook