Vimeo Purchases Bushwick-Based Streaming Platform Livestream

BUSHWICK, BROOKLYN — A Bushwick-based live video streaming platform has been bought by Vimeo, the companies announced Tuesday.

Livestream — a video streaming service whose clients include the New York Times, Spotify and TED — was purchased in a deal that was the largest in Vimeo’s history, TechCrunch originally reported.

Vimeo will use the Bushwick company’s technology to launch Vimeo Live, which will allow users to film, edit and stream live events, according to a statement from Livestream CEO Mark Kornfilt.

“For the immediate future, the Livestream team and brand will continue to operate as usual,” wrote Kornfilt.

“Long term, we expect to integrate Livestream’s capabilities fully within Vimeo to offer the world’s best end-to-end video solution.”

Livestream boasts about 40 million viewers every month and frequently hosts live events in its Bushwick headquarters at 195 Morgan Ave.

Photo courtesy of Vimeo and Livestream