Vimeo, Inc.

Good morning, and thank you for joining Vimeo's Q4 earnings event. We're excited to be here in front of you. Before we begin, a few comments. First, this session will be recorded and available on the Vimeo Investor Relations site later today. Second, we will discuss Vimeo's outlook and future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or similar such statements. These forward-looking views are subject to risks and uncertainties and our actual results could differ materially from the views expressed today. We have also provided information regarding certain key metrics and our non-GAAP financial measures, including certain forward-looking measures. These should be considered in addition to, and not as a substitute, for or in isolation from GAAP measures. Additional information regarding Vimeo's financial performance, including reconciliations with comparable GAAP measures, can be found in our earnings release and BIMEO filings with the SEC, as well as in supplemental information posted at the Investor Relations section of our website. With that, I'll turn it over to our CEO, Anjali.

Good morning, everyone, and welcome. Last night, I published a letter to our shareholders with three main takeaways. First, my team and I are here to change how the world views this video. We've had our missteps, but we also see mounting validation of our strategies. Increasingly, Vimeo is powering video for work, and we're entering the year with more focus, clarity, and rigor. Second, we expect our revenue growth in 2022 to slow versus last year by more than we'd like. We continue to digest the COVID hangover with our smaller customers, both in specific verticals like faith and fitness, as well as in use cases like live streaming. We're also making needed changes to the business as we shift our go-to-market, expand our product growth, and enhance our monetization model. These factors, along with lapping a strong first half of 2021, make it hard to maintain the exceptional growth rates from this time last year. We do expect to re-accelerate our revenue growth in the second half of 2022. Third, underlying our overall growth rate is an exciting mixed shift towards serving larger companies. A shift that we do is ultimately higher value, stickier dollars. We've set our North Star internally on serving companies with greater than 100 employees. These are the customers we see as having the most urgent need for our solution with the budget to invest in best-in-class video capabilities and who we can grow with most as our products need to expand. We shared some of the reasons we believe this in our shareholder letter. And going forward, we'll look to share more with you as we make traction with these companies. And before we dive into the business, I've got a few team updates to share. First, I've invited our president and chief product officer, Mark Kornfeld, to join today. You may not be able to tell with this table, but I am seven months pregnant and will be stepping away from maternity leave in April. We plan for Mark to serve as interim CEO during that time. and to represent Vimeo during our Q1 earnings. For those that don't know him, Mark is a 15-year veteran in B2B video, having founded and run several businesses. Among them, he served as CEO of Livestream, which Vimeo acquired in 2017. Mark has spent the last four years of my partner in architecting our strategy and transition, so Vimeo is in great hands. Second, we recently added two new leaders to our guest team. our first Chief Revenue Officer, Eric Cox, and our first Chief People Officer, Crystal Boyden. Eric spent nearly two decades at Adobe, where he oversaw various go-to-market, e-commerce, and revenue functions for some of their largest businesses. His priorities at Vimeo include delivering our revenue targets across all channels, enhancing our monetization model, and optimizing our website experience. Crystal comes from Canva. where she led their people team as they scaled from several hundred to over 2,000 employees globally. In a world where everyone's talking about the Great Resignation and the War for Talent, Crystal's job is to cultivate people-first culture at Vimeo and ensure we've got world-class talent. Third, as we announced yesterday in our press release, our CFO in Orion will be leading us to explore other career opportunities. We picked up the search for his successor, And Narayan will continue to serve as CFO through June as needed to ensure a seamless transition. After that, he'll continue to be available as an advisor to us through the end of the year. I'm sad to see Narayan go, but I'm also excited to see what he does next. Narayan, on behalf of the board and every Vivian on the team, we wish you incredible success. Thank you for everything that you have done to get us to this point and everything that you continue to do. It's been a privilege.

Thank you, Anjali. I really appreciate that. I just want to say that it has been a real honor to take Vimeo through these last few years. I have the utmost faith in this team and our strategy and strongly believe in the huge opportunity ahead for the company. I will always be cheering for you, Anjali, and for Vimeo.