Surpassing $100 Million: Vimeo Exceeds $100 Million In Revenue
Vimeo reported in their quarterly revenue conference that they have exceeded $100 million revenue following their plan to market Enterprise diligently. Last Wednesday, November 3, 2021, Vimeo Inc. has posted its first-quarter revenue results, which show upward of $100 Million in revenue. The company recorded a third-quarter net loss of $11.7 million, which is about seven cents per share. This looks good compared to last year’s third-quarter report, where they shared a $9.8 million loss or about six cents per share.
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Vimeo Inc.’s revenue has increased by about 33% every year and is driven by a 14% increase in their subscribers and a 15% increase in the ARPU. The company’s enterprise revenue increased by more than 60% in the third quarter, and the company currently has 6,000 paying customers for its Enterprise service. The operating loss for the quarter is at $11.5 million, compared to GAAP operating loss of about $7.5 million in the third quarter of last year. The current cash flow and liquidity of the company also improved this quarter with about $9.4 million in operating activities and compared to the previous year’s $8.9 million. This year’s free cash flow is $9.4 million compared to last year’s $8.6 million in the third quarter of last year. The company proudly reported that it had ended the quarter with about $340.6 million of assets in cash and cash equivalents.
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During the video conference, Vimeo launched their Vimeo Events, an innovative solution for all marketers to efficiently deliver virtual events to their clients. Vimeo Events will help the marketers from beginning to end without the need for a professional and dedicated production team. This solution will add strong webinar functionality to Vimeo that can handle DIY live production studio and effectively engage the audiences adapted to all Vimeo’s video suite. Vimeo events also include an intuitive scene builder, a centralized hub to manage registrations, marketing technology integrations with Mailchimp, Marketo, Mailchimp, and other similar platforms, access viewer-level analytics, send automated email reminders, and edit post-event content. Both enterprise plans and self-serve can use Vimeo Events.
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There is also scaling in the Video Library, a secure hub for the content of employees to share and access the information across the teams with about 500 enterprise customers onboarded since their launch. This scale-up also includes additional team management capabilities, multiple language captioning, customizable branding, and additional editing functionality.
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Sources: PR News Wire, Market Watch, Yahoo!
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