Live video streaming opens other avenues for Vimeo, a platform better known as YouTube for intellectuals.
The video sharing site Vimeo said on Tuesday it will buy the video streaming service Livestream and will launch a streaming service called Vimeo Live.
Vimeo, owned by IAC, did not disclose the financial details of the acquisition of the company based in Brooklyn, New York. Livestream points out that it provides live videos to 50 million viewers from customers like Spotify and Dow Jones. Once the purchase is closed, Livestream’s technology will be integrated with Vimeo, which will allow users to capture and stream live events.
“With the launch of Vimeo Live and the addition of Livestream’s impressive team and impressive product line, we can empower a diverse range of creators to produce beautiful live experiences with professionalism and ease,” said Vimeo CEO Anjali Sud, in a statement.
The purchase of Livestream enables a major expansion for Vimeo, usually known as YouTube for intellectuals.
As the Google video site, Vimeo allows users to upload video clips. But his dedication to the high quality of image and the prohibition of ads in the videos made him the destination of content with artistic and cinematographic inclinations and not of videos of cats.
This news comes as Vimeo withdrew its plans to launch its own video subscription site with original content. The site said in November that it would help its creative community develop original content and supplement it with authoritative programming. Vimeo said in June that it had abandoned these plans.