First act of business is making the premium service free.
Twitter's new Vine video-sharing app has already garnered a following from big entities like the London Fashion Week, enabling users to create looping GIF-like six-second clips.
And now, Vimeo has bought Clear Media's Echograph, an iOS app for iPhone and iPad that allows users to 'create beautiful videos that look like animated GIFs'. Sound familiar?
The first act of business under Vimeo's control is the removal of the £1.99 price tag to make the app free. The Echograph team will report to Vimeo president Dae Mellencamp, while Clear Media CEO Nick Alt has been named Vimeo president of mobile, which will see him lead development across all platforms.
Kerry Trainor, CEO, Vimeo, said: "We chose Echograph because it helps people easily create beautiful high quality video content. That, with Nick’s proven track record of building innovative video apps made it a perfect fit for Vimeo."
Alt, added: "Vimeo to me is the most innovative video platform that empowers its users to share quality content. I'm very excited for our teams to come together to take Echograph to the next level and develop a new fleet of amazing mobile video apps."