The internet is being swallowed by fake videos. Vimeo is doubling-down on real ones. The video platform — known as YouTube’s ad-free, artist-friendly counterpart — is not playing the generative game.

Vimeo has agreed to be acquired by Bending Spoons in an all-cash transaction that values it at approximately $1.38 billion, equating to $7.85 per share for Vimeo shareholders. A few weeks before the ...