Vimeo is a video-sharing website on which users can upload, share, and view videos. It was founded by Zach Klein and Jake Lodwick in November 2004. On October 16, 2008, Vimeo unveiled its $60-per-year 'Vimeo Plus' package, which allows users additional weekly uploads (up to 5 GB), unlimited HD videos, unlimited creation of channels, groups and albums, no ads, HD embeds, 2-pass video re-encoding that results in higher quality, priority encoding, and more. The arrival of Vimeo Plus also meant the downgrade of the free version, which up to that point also enjoyed unlimited HD re-encodings per week and unlimited creation of groups/albums/channels.
(from the Vimeo Website)