IAC CEO Joey Levin will take over as interim Vimeo CEO while the search for a permanent replacement is conducted. Trainor will remain an adviser to Vimeo during the transition period.
In an email to staff Tuesday that was provided to Variety, Trainor said he plans to “live life for a bit while working with a few companies as a board member until I’m ready to announce my next full-time project.”
“This wasn’t an easy choice as I love Vimeo to its core — to its creative, inspiring, insanely wonderful (and sometimes just wonderfully insane) core,” the exec wrote in the memo. According to his LinkedIn profile, Trainor is on the board of guitar maker Fender Musical Instruments.
According to Trainor, on his watch Vimeo more than tripled its monthly users to over 280 million worldwide, making it the second-biggest video sharing destination after YouTube. Vimeo also has grown revenue fivefold, he claimed (IAC doesn’t break out financials for Vimeo), with 710,000 paying subscribers currently.
Before joining Vimeo in March 2012, Trainor was senior VP and GM of entertainment for AOL’s Huffington Post Media Group, overseeing properties including AOL Music, AOL TV and Moviefone. Before that he was co-founder and CEO of FlipGloss Media, a photo-distribution startup acquired by Forbes Media, and was head of global media products for Yahoo Music. Trainor ran business development and product management for music startup Launch.com, which was acquired by Yahoo in 2001.
Trainor’s departure was reported earlier by Bloomberg.