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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