Vimeo has acquired Livestream, a firm that provides live streaming tech to corporate and professional clients. Livestream is based in California and has offices in Ukraine and Bangalore. It will use Livestream’s tech and infrastructure to power its recently-launched Vimeo Live, which is priced between $75 and $800+ a month, depending on client requirements. Just like Livestream’s plans, Vimeo Live seems to be targeted at organizational clients and third parties.
This is unlike YouTube and Facebook, whose live streaming products are not very customizable and are usually only viewable on those companies’ websites themselves. Vimeo (and Livestream) on the other hand, provide customizable and embeddable streams that clients can customize and encode video for on their own; the company will, however, handle all the backend parts of the live streaming.
Vimeo will also provide content creators with this live streaming technology, and like YouTube, will enable monetization with advertising. This is the largest-ever acquisition, the company told TechCrunch. “Ultimately, Vimeo is a creator-first platform and live video is what our creators are asking for,” CEO Anjali Sud said in a statement, adding that acquiring Livestream was the best way to ensure “what we produce is founded in quality and reliability”.
Livestream’s clients, which include the New York Times, Dow Jones, Spotify, TED Talks, and others, delivers over 50 million live streams a day, the company aid in its announcement. Livestream’s syndication tools will soon be used for live distribution across Facebook, YouTube, Twitch and Twitter, the company said.