Wikipedia
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Model–view–viewmodel (MVVM) is a software architectural pattern.
MVVM facilitates a separation of development of the graphical user interface – be it via a markup language or GUI code – from development of the business logic or back-end logic (the data model). The view model of MVVM is a value converter; meaning the view model is responsible for exposing (converting) the data objects from the model in such a way that objects are easily managed and presented. In this respect, the view model is more model than view, and handles most if not all of the view's display logic. The view model may implement a mediator pattern, organizing access to the back-end logic around the set of use cases supported by the view.
MVVM is a variation of Martin Fowler's Presentation Model design pattern. MVVM abstracts a view's state and behavior in the same way, but a Presentation Model abstracts a view (creates a view model) in a manner not dependent on a specific user-interface platform.
MVVM and Presentation Model both derive from the model–view–controller pattern (MVC).
MVVM was developed by Microsoft architects Ken Cooper and Ted Peters specifically to simplify event-driven programming of user interfaces—by exploiting features of Windows Presentation Foundation (WPF) (Microsoft's .NET graphics system) and Silverlight (WPF's Internet application derivative). John Gossman, one of Microsoft's WPF and Silverlight architects, announced MVVM on his blog in 2005.
Model–view–viewmodel is also referred to as model–view–binder, especially in implementations not involving the .NET platform. ZK (a web application framework written in Java) and KnockoutJS (a JavaScript library) use model–view–binder.