Israeli Video Co Wibbitz Offered to Vimeo for a Loss

Wibbitz CEO Zohar Dayan. Photograph Wibbitz

Vimeo, the publicly traded all-in-one video software program answer, has agreed to accumulate Israeli startup Wibbitz, a number one enterprise video creation suite. The acquisition worth was not revealed, however Calcalist has reported that it is going to be lower than the $30 raised to this point by Wibbitz in investments.

This isn’t Vimeo’s first Israel acquisition. The corporate acquired Israeli startup Magisto in 2019. And Vimeo additionally just lately introduced plans to double its workforce at its Israel headquarters in Ness Ziona, the place 120 individuals now work. Wibbitz’s 30 staff will be part of Vimeo’s Israel workplace.

Based in 2011 by CEO Zohar Dayan and Yotam Cohen, Wibbitz gives an enterprise-grade video creation suite for advertising and marketing, inner communications, and media groups to provide and collaborate on company-branded movies at scale. Wibbitz says that it has helped corporations like HubSpot, Bloomberg, Condé Nast, and Harvard College produce hundreds of movies whereas sustaining the strict model management and supporting the collaboration wants that enormous organizations require: from team-based approval workflows, shared workspaces, and account administration to company-branded templates with constant logos, fonts, coloration palettes, and transitions.

“Wibbitz and Vimeo have a shared objective of constructing video creation so easy that any worker can simply and shortly make lovely, professional-quality movies at scale,” mentioned Zohar Dayan, CEO, Wibbitz. “Now we have spent over 10 years honing our product to serve advertising and marketing, HR, and communications groups at among the largest corporations on the earth, and are thrilled to hitch Vimeo’s world-class platform to speed up the video transformation going down throughout the enterprise.”

“Vimeo now serves over six thousand enterprises with our video software program, and we’ve solely simply begun to unlock the myriad methods video can be utilized at work to speak, collaborate and join higher,” mentioned Anjali Sud, CEO, Vimeo. “Each WIREWAX and Wibbitz deliver industry-leading know-how and merchandise to Vimeo, together with spectacular groups and deep institutional data in strategic areas of enterprise video. Collectively, we’ll have the ability to innovate sooner and go farther in empowering each firm to comprehend the ability of professional-quality video.”

Israeli Video Co Wibbitz Sold to Vimeo for a Loss