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NEW YORK, April 1, 2021 /PRNewswire/ Vimeo, an operating business of IAC (NASDAQ: IAC), today announced the anticipated composition of its Board of Directors, as the company prepares to spin-off from IAC. The spin-off is expected to be completed during the second quarter of 2021, at which time Vimeo is expected to become an independent company listed on Nasdaq.
The following are the anticipated 11 members of Vimeo s post-spin Board of Directors:
Joey Levin, Chief Executive Officer, IAC (Chairman of the Board)
Adam Gross, Technology Investor and Software Industry Veteran
Alesia Haas, Chief Financial Officer, Coinbase
Kendall Handler, General Counsel, IAC
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Vimeo Raises $300 Million of Equity
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NEW YORK, Jan. 25, 2021 /PRNewswire/ Vimeo, an IAC (NASDAQ: IAC) business and the world s leading video software company, today announced it raised $300 million in primary equity from funds and accounts advised by T. Rowe Price Associates, Inc. and Oberndorf Enterprises, LLC at a valuation in excess of $5 billion. This follows the November 2020 announcement of the company s $150 million equity raise and IAC s plan to spin-off Vimeo into an independent, separately-traded public company.
(PRNewsfoto/Vimeo)
The new investment occurred in two tranches, consisting of $200 million at a $5.2 billion pre-money valuation and $100 million at a $5.7 billion pre-money valuation. The capital will provide Vimeo with additional cash to accelerate its investments in growth, innovation and talent. Subject to necessary stockholder approvals and the final approval of the IAC board of directors, IAC expe
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