Vimeo, the publicly traded all-in-one video software solution, has agreed to acquire Israeli startup Wibbitz, a leading enterprise video creation suite. The purchase price was not revealed, but Calcalist has reported that it will be less than the $30 raised to date by Wibbitz in investments.
This is not Vimeo’s first Israel acquisition. The company acquired Israeli startup Magisto in 2019. And Vimeo also recently announced plans to double its workforce at its Israel headquarters in Ness Ziona, where 120 people now work. Wibbitz’s 30 employees will join Vimeo’s Israel office.
Founded in 2011 by CEO Zohar Dayan and Yotam Cohen, Wibbitz provides an enterprise-grade video creation suite for marketing, internal communications, and media teams to produce and collaborate on company-branded videos at scale. Wibbitz says that it has helped companies like HubSpot, Bloomberg, Condé Nast, and Harvard University produce thousands of videos while maintaining the strict brand control and supporting the collaboration needs that large organizations require: from team-based approval workflows, shared workspaces, and account management to company-branded templates with consistent logos, fonts, color palettes, and transitions.
“Wibbitz and Vimeo have a shared goal of making video creation so simple that any employee can easily and quickly make beautiful, professional-quality videos at scale,” said Zohar Dayan, CEO, Wibbitz. “We have spent over 10 years honing our product to serve marketing, HR, and communications teams at some of the largest companies in the world, and are thrilled to join Vimeo’s world-class platform to accelerate the video transformation taking place across the enterprise.”
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It was love at first video! ???? Today we announced some exciting news: industry leaders @Wirewax and @Wibbitz are joining team Vimeo! #VMEO #Interactivevideo #shoppablevideo #videomarketing https://t.co/ITCU1lXDkz pic.twitter.com/l2WVPPnzEX
— Vimeo (@Vimeo) November 10, 2021
“Vimeo now serves over six thousand enterprises with our video software, and we’ve only just begun to unlock the myriad ways video can be used at work to communicate, collaborate and connect better,” said Anjali Sud, CEO, Vimeo. “Both WIREWAX and Wibbitz bring industry-leading technology and products to Vimeo, along with impressive teams and deep institutional knowledge in strategic areas of enterprise video. Together, we’ll be able to innovate faster and go farther in empowering every company to realize the power of professional-quality video.”