Vimeo, the 14-year-old video service that started as a platform for indie filmmakers, is launching Vimeo Enterprise, a technology tool designed to help large businesses better communicate internally.
Why it matters: It's the second phase in Vimeo's two-year pivot from being a video and content company to a SaaS (software as a service) company. Last year, Vimeo launched its consumer-facing SaaS tool catered towards providing video professionals with high-grade video creation tools. Thursday's launch is catered towards large businesses.
The details: The new enterprise service is meant to allow large companies to host, share and manage video content across their teams at scale.
- It offers both live and on-demand systems, servicing anything from external marketing and events to training and onboarding videos.
- Unlike enterprise video providers Zoom and BlueJeans, Vimeo's service will not offer video conferencing tools.
- Vimeo's CEO, Anjali Sud, tells Axios that what sets its service apart is its scale as well as its analytics, support and security features.
By the numbers: To date, Vimeo's pivot from serving video content to selling video technology has been successful. The company, which is owned by Barry Diller's InterActiveCorp (IAC), expects to double revenue by year's end from $100 million in 2017, with well over 1 million subscribers.
- In a statement, Vimeo says enterprise customers are its fastest-growing software customer base, which is why the company is investing in an enterprise-specific product.
The big picture: Sud says Vimeo won't compete directly with Zoom or other video conference businesses, but seeks to solve similar business challenges.
- "A problem that exists now today more than ever is that organizations are more disparate and in need of more efficient collaboration tools."
Go deeper: Vimeo pivots business from media to tech
