As social media behemoths like Facebook and Twitter increasingly focus on live video, the Barry Diller-backed Vimeo has acquired Livestream, which handles 10 million live online events a year, and launched a new offering that enables customers to broadcast high-quality live video.

In a blog post, the unit of IAC Corp. said the enterprise service would be superior to more consumer-oriented options, just as Vimeo long managed to distinguish its video player as one aesthetically preferable to YouTube, which crushed other rivals. Terms of the acquisition were not disclosed.

“Live streaming is the #1 request from our creator community this year, and we’re focused on bringing a new level of quality, convenience and craft to this evolving medium,” said Anjali Sud, CEO of Vimeo. “With the launch of Vimeo Live and the addition of Livestream’s impressive team and innovative product suite, we can empower a diverse range of creators to produce beautiful live experiences with professionalism and ease. We are excited to take a leadership role in this large and growing market, and look forward to quickly making our mark.”

The push into live video comes after some bumps earlier this year. Vimeo, which claims WGA Award-nominated series High Maintenance (which later jumped to HBO) among its previous original series successes, at one point planned to roll out a subscription VOD service. It later scrapped that plan after sensing the immense resources it would require.

Sud has been in the corner office just a couple of months. She got the CEO job last summer as an internal replacement for the departing Kerry Trainor.