Investing.com -- European mobile app developer Bending Spoons is mulling a possible acquisition of video hosting platform Vimeo (NASDAQ:VMEO), Bloomberg News reported on Tuesday.
Citing people familiar with the matter, Bloomberg said that Italy-based Bending Spoons has been in conversations with banks about financing the potential transaction.
The talks are in an early stage and are could not lead to a final deal, the people said.
Shares in Vimeo closed lower following the news on Tuesday. It has shed more than 90% of its market capitalization since it was spun off as a standalone firm by U.S. holding company IAC/InterActive in 2021.
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