Sud for a toy buyer’s spot, and she eventually ran marketing for the tech giant’s unit. Sud joined what was then known as Time Warner Inc. Shortly before her 2005 graduation, she was picked as the first analyst for Sagent Advisors, a startup investment bank and takeover specialist. “You feel like your life is over.’’ Nevertheless, Ms. Sud suspects rival applicants were more qualified. She aimed to launch her business career via investment banking.Īlmost a dozen big investment banks rejected her, however. So she pursued a bachelor’s degree in finance and management at University of Pennsylvania’s Wharton School. Sud says: “I realized that businesses and their leaders can have a positive impact." He believes creating livelihoods through his facility is as crucial as saving patients’ lives, Ms. She drew inspiration from her father, a cardiac surgeon in Flint, Mich., who also started a plastics-recycling plant there. The eldest child of physician immigrants from India, she knew by age 14 that she wanted to run a business someday. Sud predicts during a video interview from Vimeo’s Manhattan headquarters. “We will get to $1 billion in annual revenue,’’ the fast-talking Ms. And given this year’s strong gains, Vimeo no longer expects revenue will grow 30% in the short term. That is far less than YouTube’s $7.21 billion in third-quarter sales. Its nine-month revenue of $285.6 million was about 43% higher than the same 2020 period. Vimeo had more than 230 million users world-wide as of Sept. The newly public company forecast that serving businesses’ video needs would represent a $70 billion global market by 2024. But, she adds, “I developed so much as a leader.’’ “It was messy, and it was stressful,’’ recalls the CEO, now 38 years old. Sud says she never expected the unprecedented, explosive demand for its video tools to happen so fast. Vimeo revenue was at least 40% higher every month between April and December 2020 compared with the year-earlier periods. The video platform became an important vehicle for sales, training and communications once Covid-19 made businesses more reliant on the internet. It makes money instead from subscriptions for video-creation, editing and hosting tools that help companies, and professional content creators make and distribute video online. Unlike Alphabet Inc.’s video-sharing behemoth, YouTube, Vimeo doesn’t sell ads. All you’ve got to do is fill out the tiny form below.Vimeo, now a public company, lets users upload clips for streaming and sharing. Subscribe to our blog where we publish two innovation-related stories every week. Be it BASF’s successful intrapreneurship program Chemovator, ITC’s e-choupal initiative, Nitin Prajanpe’s experiments at Hindustan Unilever, or Deutsche Telekom’s UQBATE program. Want to read more inspiring stories like this? We have seen numerous examples where ideas changed the fortunes of organizations. The story depicts how a simple strategy change from a business perspective can help a business grow leaps and bounds. As of November 2022, Vimeo has about 1.6 million subscribers. Under the leadership of Sud, Vimeo business model innovation reached great heights. It gives you an opportunity to own something yourself – especially if you’re passionate about it – and maybe get an experience that you wouldn’t normally get if you just went down the standard track.” – Anjali Sud Results: “One of the reasons I was given ownership of the creator side of the business is because it wasn’t, at the time, the area that was getting all the focus and attention, so they could take more of a chance on me. She had definitely given Vimeo business model innovation a new start. The idea was soon a success, and within 3 years, in 2017, Anjali Sud was promoted to the CEO of Vimeo. Sud’s idea was accepted by the management and she was assigned a small team to test the idea. Her idea was to create a single-stop platform for businesses to record, edit, store, and distribute videos. Instead of thinking on the entertainment side of things, her focus was on silicon-valley plumbing, aka entrepreneurs. This experience really helped, when she was placed in charge of Vimeo’s creator-services division, which provides Software as a Service (SaaS) tools designed to help filmmakers with post-production. The company had annual revenue of under $40 million and was trying to build a subscription service to rival the likes of Netflix and Youtube.Īnjali had previously worked as a consultant and helped entrepreneurs to come up with ideas to grow their SMEs. In 2014, When Anjali Sud joined Vimeo, the company was losing money. Such a situation at Vimeo brought out an innovative idea from an employee. We are aware that all industries at one point or another are faced with a difficult time. Vimeo Inc, which was founded in 2004, is a video software solution company that offers a full range of video tools via a software-as-a-service model.
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