private equity firm
If we in the West ever manage to extricate ourselves from intentionally convoluted laws that allowed these entities to come into being, I hope businesses with any vague hint of appearance resembling these perfidious demons from the ninth circle of hell are bound like wicked watchers and cast into crevices under rocks above lava.
Yesterday, following Vimeo’s recent acquisition by a private equity firm..
Well, I guess thats the end of Vimeo
Bending spoons in particular is known for this, they did it with Evernote too. They buy a company, fire everyone, coast on its income as long as they can, then repeat.
That's why Evernote went the way it did? Oh, that makes me sad. That was an incredible resource in grad school. OCR saved my ass on my PhD exams. Hand written notes, scanned at the library copier, organized and OCR. Immensely useful for a test (take home) that takes three days and covers two years of classes.
I stopped using it about 5 years ago because it just started to feel off. Little things not working or a UI change I didn't like. Plus the pricing was restrictive in a way I couldn't justify it anymore.
They don't really "coast" on the income. They have the engineering and desire to run their investments very long term. Of course they still fire almost everyone, so if you even get a hint of them trying to acquire your company you should start looking elsewhere...
Got a project at work related to uploading stuff to vimeo, perhaps I should just wait and see if they collapse and it saves me the effort?
Do you work at dropout lol
lol I came here to be like “oh man this is bad news for dropout”
Dropout uses Vimeo?
They use Vimeo's OTT platform (which makes a lot of sense especially considering Vimeo was founded at CollegeHumor/Dropout)
private equity?
‘nuff said. fuck private equity.
I'm now realizing ive never seen enough shortened as 'nough, it's always 'nuff.
That's funny.
I wonder if anyone in the upper echelons of Bending Spoon has large investments in google. Probably would be hard for google to purchase and squash vimeo due to monopoly laws, but asking a friend to purchase and squash it l? Perfectly acceptable
Quite a few early employees of Bending Spoons are Ex-Google, but it's not a conspiracy to squash some irrelevant competition. Just business/greed
Well, I guess in this case, there WERE spoons.
I wonder if DailyMotion is hiring?
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