NEW YORK - Vimeo (NASDAQ: NASDAQ:VMEO), a leading video experience platform, announced today the appointment of Charlie Ungashick as its new Chief Marketing Officer (CMO). Ungashick, who has been serving as interim CMO since January, will helm the company's marketing strategies across both consumer and commercial channels.
In his new role, Ungashick will focus on integrating advanced AI technologies to enhance the platform's offerings for businesses, creators, and video professionals worldwide. Additionally, he is set to lead Vimeo's inaugural customer conference, Vimeo REFRAME, slated for later this month.
Philip Moyer, CEO of Vimeo, expressed confidence in Ungashick's ability to drive growth and innovation for the company, citing his extensive background in marketing and deep understanding of the enterprise and consumer markets.
Ungashick brings over two decades of marketing expertise to Vimeo, having previously held CMO positions at Validity and leadership roles at Applause, WorkHuman, and PTC (NASDAQ: NASDAQ:PTC). His experience spans across product management and sales in various high-growth technology firms. A graduate of Fordham University, Ungashick also holds an honors diploma in economics from the Université de Paris Sorbonne.
The new CMO voiced his enthusiasm for Vimeo's potential impact on marketing communications and strategy, emphasizing the company's commitment to empowering creators with innovative tools for storytelling. Vimeo's upcoming REFRAME conference is expected to further engage the platform's community, including the Staff Picks community of filmmakers.
Vimeo, recognized for its innovative video solutions, serves millions of users, from individual storytellers to large enterprise teams, facilitating billions of video views each month.
This news is based on a press release statement.
In other recent news, PTC Inc. has announced a strategic collaboration with Amazon (NASDAQ:AMZN) Web Services (AWS) to enhance its Onshape cloud-native computer-aided design (CAD) and product data management (PDM) offerings. This partnership will facilitate product enhancements, customer adoption, and artificial intelligence initiatives. PTC Inc. also reported an 11.5% year-over-year growth in annual recurring revenue (ARR), aligning with expectations, and a 19% increase in operating cash flow and free cash flow.
The software company has made leadership changes, appointing Robert Bernshteyn, a General Partner at ICONIQ Capital, to its Board of Directors. In terms of analyst ratings, BMO Capital raised PTC Inc.'s stock price target to $206 and maintained an Outperform rating, while Piper Sandler increased its target to $182, retaining a Neutral rating. Conversely, Mizuho Securities downgraded the stock from Buy to Neutral, citing sluggish demand trends and a slower-than-expected transition to a SaaS business model.
These are recent developments that investors should be aware of. The company's mid-term ARR growth forecast has been revised to low double digits, reflecting current market conditions. It's important to note that these recent developments indicate PTC Inc.'s strategic focus on disciplined execution and resource allocation.
InvestingPro Insights
While Vimeo's appointment of Charlie Ungashick as CMO is the focus of the article, it's worth noting his previous experience at PTC (NASDAQ: PTC), a company that has shown strong financial performance recently. According to InvestingPro data, PTC's market capitalization stands at $21.14 billion, reflecting its significant presence in the technology sector.
PTC's revenue for the last twelve months as of Q3 2024 was $2.22 billion, with a healthy gross profit margin of 79.81%. This robust financial performance could have provided Ungashick with valuable experience in managing marketing strategies for high-growth tech companies, which he can now apply to his role at Vimeo.
InvestingPro Tips highlight that PTC has a high return on invested capital, suggesting efficient use of funds to generate profits. Additionally, analysts have recently revised their earnings upwards for PTC, indicating positive sentiment about the company's future performance. These insights from Ungashick's former employer could provide context for the expertise he brings to Vimeo.
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