Adam Gross: Yes, going to speak to the second part of your question. One of the things that we’re becoming more aggressive about is how we talk about our products, how we talk about the innovation that we’re creating and how we make sure that our customers are aware in adopting all the great things that we’re releasing. In just a couple of weeks ago, at the end of the quarter, last quarter, we released our Vimeo winter 2024 release. I encourage you to go to the website. You can take a look at all the areas that we’re focusing on and innovating. And I think it will give you a pretty good flavor of how the innovation kind of spans what we’re seeing both on self-serve and where customers and individuals can get started very quickly all the way up through with a brand-new editor with things like multitrack audio, all the way up through advanced features for enterprises like a new integration analytics API, which is super useful for understanding employee engagement.
So I’d just say stay tuned. You can – we’re going to be more clear about how we’re communicating our product capabilities and hopefully easier for all of you to keep track.
William Kerr: Okay. Really appreciate the call. Thanks.
Operator: Our next question will come from Youssef Squali at Truist. Youssef? All right. Our next question will come from David Lustberg at Jefferies. David?
David Lustberg: Hi, thanks so much. I wanted to ask, I noticed in the shareholder letter, Adam still had interim next to your name. I was just curious if you guys could give us an update on where you guys are in the CEO search, who you guys are looking for is the right fit and what kind of timeline there might be around that? I know obviously, you guys are looking for the right fit, not necessarily a time perspective, but any update there would be helpful.
Gillian Munson: So the CEO search continues. And in the meantime, Adam is full-time running the business with us. We’re having a lot of fun doing it. We’re headed in the right direction. And I think the strategy that Adam has laid out and we’ve been laying out for the Street is exactly the direction we are going and the right fit for us will fit with that strategy. So no update on timing. Of course, these things are hard to tell on timing. But we are not holding back at Vimeo. Adam is here with us, and we are working really hard on the business.
Adam Gross: Yes. Hopefully, as you’re seeing in the letter and the other results in the business and across the product releases. We, as an organization, are fully heads down, engaged and really enjoying taking advantage of all the strategic opportunities that our market allows.
David Lustberg: Got it. And then maybe just a second question, if I may. I think really good execution from you guys on the enterprise side, maybe getting a little bit lost in the sauce, if you will, with everything going on in Other and self-serve. You talked about some of the growth coming down just as low as large numbers. But how durable do you see the growth in enterprise? And it sounds like you guys have an exciting product portfolio ahead of you, like how do you think about the balance in enterprise between growing customer count and ARPU would be helpful.
Gillian Munson: So just real quick on overall growth. I think the point we tried to make in the shareholder letter, and I think you’re – what you reflected in your question is that there’s a little – it’s a hard – so there’s a lot of puts and takes in the Vimeo top line that, in a way, is muddying really great progress, right? The company ex Other has grown for the last two years, and we continue to see a lot of great growth prospects actually taking some risk in terms of putting a little bit more pressure on the self-serve business to get to where we want to be in terms of the mix of product versus marketing-led growth. But we continue to see really strong growth prospects for Vimeo as a whole, and in particular, in Vimeo Enterprise, where we see double-digit growth is absolutely the future of that business with a lot of opportunity. Adam, do you want to add to that? No?
Adam Gross: No, I think you’re going to see innovation and product releases across both businesses. I think the benefit of video becoming more strategic to organizations of all sizes should help provide tailwinds across our channels.
Gillian Munson: Yes. And I just realized you added a question about ARPU and subs and I wanted to make sure I came back to that. our ARPU and our AOVs have been in about the $20,000 range. We think there’s still a lot more opportunity for us with customers to sell. It takes time to work that through the system. And of course, Vimeo Enterprise business is a blend of SMBs and mid-market and corporate. It’s corp strat. It’s just about the timing on that. To us, that’s time, not – it’s – we just got to work our way there.
David Lustberg: Got it. Thank you, guys. Appreciate it.
Gillian Munson: No problem.
Operator: With that, there are no further questions. I’ll hand the call back to Gillian.
Gillian Munson: Thanks for joining our 2023 Q4 live Q&A. We look forward to updating you again next quarter. Have a great evening.
