https://techcrunch.com/2019/04/15/vimeo-has-acquired-short-form-video-creation-platform-magisto/

Vimeo, the IAC-owned platform for hosting, sharing and monetizing streamed video, has made an acquisition to expand into providing more creation and editing tools. The company has acquired Magisto, a startup founded in Israel that currently has over 100 million users that focuses on providing tools to create and edit short-form videos, providing not just editing but sourcing of music, stock photos and other elements as part of the mix.

Vimeo — which itself has 90 million members in over 150 countries — says that the two will work together “to develop entirely new short-form video creation capabilities for the Vimeo platform, with the goal of helping any individual or business tell their stories with professionalism and ease.”