Vimeo CEO Kerry Trainor to Step Down
IAC CEO Joey Levin will act as interim chief of the video streaming site.
Vimeo CEO Kerry Trainor is stepping down from his post atop the video streaming service after four years.
The former AOL executive on Tuesday wrote in a memo to staff that he will continue to act as an advisor to the IAC-owned company as it searches for a new CEO. In the interim, IAC CEO Joey Levin will step into the role that Trainor is vacating.
"Ultimately we're all just caretakers of the talented world of Vimeo creators, and as with any great thing, the idea is to leave it a bit better than how you found it," Trainor wrote in his email, which a spokeswoman shared with The Hollywood Reporter. He added that he plans to "live life for a bit while working with a few companies as a board member until I'm ready to announce my next full-time project."
Vimeo, an ad-free streaming service that sells premium subscriptions to filmmakers, has positioned itself as an alternative to YouTube, though it has remained a much smaller player in the online video space. It currently boasts a monthly user base of more than 280 million and claims a subscriber base of 710,000. YouTube, meanwhile, claims more than one billion total users.
Vimeo, like YouTube and others in the online video space, has made a push into original content over the last year, funding web series High Maintenance before it sold to HBO and releasing a 2016 slate of originals that included an Aidy Bryant short film, Darby Forever.
Barry Diller's IAC acquired Vimeo in 2006 and the company today has a team of 200 employees. In his memo, Trainor called the 12-year-old company "one of the most valuable companies within IAC."
IAC has hired media consultant Garth Ancier to explore best strategies for the company and its other media businesses.
Bloomberg first reported news of Trainor's departure.