Then the next phase of that is really taking these other pieces of video, and how do you actually bring that into businesses and how they communicate? And I'll give you just like some examples. It started with the meeting meetings have been video-ified. Then I think you have this third wave that we're going through now, which is now businesses using video for communication. You look at what's happening with TikTok, it's a form of personal expression. And then you had the consumer wave with social media and phones, and it actually became a form of personal expression. You had Hollywood Studios, and then you have Netflix, and it's a form of entertainment. Is that right? Paint the ecosystem for me here a little bit.Īs you think about the evolution of video, it started as a form of entertainment. And I feel like you're exploring, and in some sense kind of inventing, this new third space: what video is for people at work. Those are the two sides of the spectrum here. When we talk about video, we either tend to talk about Zoom or Netflix. Let's walk through that a little bit, actually, because I think understanding the video space is tough. It's much easier now to just say it in terms everyone gets and understands. But three years ago, people were very skeptical. Today, if I said to you "you know, large organizations are going to use video to train employees, or to do product demos or support," you would think that makes total sense. And the pandemic has really helped accelerate the demand. Those questions, I think, are ones that we've really wrestled with.
Most recent quarter compared to a year ago, and by some measures the company is already profitable. Vimeo has more than 200 million users, 1.5 million of whom pay for its services. They've raised $450 million in capital ahead of that change, and are currently valued at about $5.7 billion. Sud and her team are getting ready to spin out of Barry Diller's IAC later this year, turning Vimeo into a public company in its own right. Now it's early 2021, and Vimeo is on a tear. Even after the initial shock wore off, she knew it would take a while to change the structures, incentives, goals and workflows to become a different kind of company. It would be wooing IT managers and vice presidents, not A-list directors and Golden Globes voters.
After more than a decade operating as a home for streaming content - sometimes a YouTube competitor, other times coming for Netflix, never quite reaching either goal - Vimeo was going to become a SaaS company. Not only was she standing in front of the company as its new leader, she was telling them that things were about to change. Anjali Sud's first day as Vimeo CEO was an eventful one.
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