IAC Enters the Spin Cycle
And shareholders love the ride.
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And shareholders love the ride.
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Internet holding company IAC, chaired by media mogul Barry Diller, announced yesterday it will spin-off its Vimeo video unit to shareholders.
Strictly Business For Vimeo
Vimeo was started in 2004 as a side project for employees of the online comedy platform "CollegeHumor." The project was quickly scooped-up by IAC in 2006 as part of a larger acquisition.
Now known as the "other YouTube," Vimeo sells a suite of video-creation and editing tools to content creators and businesses to help build their online presence.