Vimeo’s core business is focused around selling tools and services to professional and semi-professional video creators, as upgrades to its basic and free plan. This includes Vimeo’s VHX unit, an acquisition from last year, which helps companies launch their own video streaming services to sell their films, shows and web series across platforms. The service, according to its website, is used by Foo Fighters, NPR’s “This American Life,” Comedy Central, Drafthouse Films, and several others.

With the addition of Livestream’s technology, Vimeo creators can now branch into hosting live events, as well.

Livestream today powers over 10 million events per year for over 10,000 paying subscribers like Dow Jones, Philadelphia Eagles, Tough Mudder, and Spotify. Nearly 50 million viewers tune into watch the hundreds of thousands of live events powered by Livestream every month, the company also noted.

Source: Vimeo acquires Livestream, launches its own live video product | TechCrunch