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IAC Plans to Spin Off Vimeo Video Unit, Valued at $2.75 Billion

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variety.com

Todd Spangler NY Digital EditorIAC announced plans to spin off its full stake in Vimeo, the video hosting and software company, to IAC shareholders.In November, IAC announced that Vimeo had a $2.75 billion valuation after raising about $150 million from Thrive Capital and GIC.IAC, headed by chairman Barry Diller, said Vimeo has seen a surge demand in 2020 driven by the COVID pandemic.

Vimeo has 1.5 million paying subscribers, including more than 3,500 enterprise customers including Amazon, Starbucks, Deloitte, Rite Aid and Siemens.

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