Vimeo reportedly has a new CEO with a familiar face, Philip Moyer, a Google Cloud senior executive who oversees artificial intelligence (AI) has been named by the video platform provider.
Since July 2019, Moyer has served as vice president of Alphabet's Google Cloud's Strategic Industries division. Moyer was Director of Financial Services at Amazon Web Services before joining Alphabet.
In addition, Moyer held the position of CEO of two financial technology firms: Cassiopae, a French software provider for the commercial banking industry, and Edgar Online, a provider of financial data, analytics, and disclosure management solutions.
(Photo: PAU BARRENA/AFP via Getty Images) A visitor walks past the Google Cloud logo at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 28, 2023.
Before that, he worked at Microsoft for 15 years, managing industry teams, services organizations, and global customer teams.
He began his career at GE Aerospace as a software engineer for nuclear submarines. Moyer graduated from the University of Pittsburgh with a degree in computer science.
According to Reuters, Adam Gross, an interim CEO and board member, will be replaced by him; Gross will stay on the board following the changeover.
In extended trading, Vimeo's shares allegedly increased by 1.71%. On May 6, Vimeo will release its first quarter financial results.
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Vimeo's CEO Shake-Ups
The announcement was made just under a year after Vimeo's nine-year CEO, Anjali Sud, departed the organization. During her tenure as an executive at Vimeo, Sud said the company had difficulties in its growth.
However, to make a video a strategic tool for enterprises, she must continue the company's shift from serving consumers to helping businesses as it pursues this new course.
The appointment of Vimeo's new CEO also comes just one month after the platform for sharing videos unveiled Vimeo Central, a safe video center driven by AI.
Vimeo Central, intended for company executives and their groups, is said to enable staff members to interact via video, derive useful information from a single source of truth, and develop into a more cohesive and effective team.
Vimeo Acquisition Fallout
According to Bloomberg, Vimeo was about to be acquired by Italian mobile app company Bending Spoons SpA, but negotiations over a price broke down.
Banks were in talks with Milan-based Bending Spoons over funding a potential acquisition of Vimeo. A representative for Bending Spoons declined to comment.
Vimeo, a New York-based company, did not return calls or emails seeking comment. In 2021, Vimeo separated from Barry Diller's IAC Inc. Since the share began trading, the price has fallen by over 90%.
In 2022, Bending Spoons, a prominent mobile app developer in Europe, acquired Evernote Corp., a note-taking app. The company declared in January that it was buying Meetup.com, a platform for local events.
According to people familiar with the subject, Bending Spoons is searching for further acquisition opportunities following a fundraising round that valued the Italian company at approximately $2.6 billion.
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(Photo: Tech Times)
