From WhatsApp s lawsuit against the government to Amazon s splashy MGM purchase and Vimeo spun off as a public firm, here s a quick look at the top tech news today.
IAC (IAC) Completes Spin-Off Of Vimeo (VMEO) streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Vimeo, Inc. (NASDAQ: VMEO) has debut on the Nasdaq exchange today under the ticker VMEO. Due to the spin-off IAC’s interest in Vimeo is now directly held by IAC (NASDAQ: IAC) shareholders as Vimeo is a separate public traded company. This is the 11th public company from IAC in a continuation of a model that has created over USD 100 Billion of shareholder value over the last 25 years. “It appears there is validation in repetition,” said Barry Diller, Chairman and Senior Executive of IAC. “On to the 12th.”
“The evolution of Vimeo into a thriving independent public company is the embodiment of the IAC way,” said IAC CEO and Vimeo Chairman Joey Levin. “We are enormously grateful to all the brilliant people, beginning with Jacob Lodwick many years ago, who’ve made this journey possible. Now we get back to our favorite part building the next one.”
Page 1 of 10 VIMEO REPORTS Q1 2021 - Q1 REVENUE INCREASES 57% TO $89 MILLION Vimeo expected to begin trading as an independent public company on May 25, 2021 NEW YORK- May 5, 2021-Vimeo released its first quarter results today. Monthly metrics for Vimeo through April 2021 are included on page 2 of this release. A letter to IAC shareholders from IAC CEO Joey Levin will be posted after the close of market trading on Thursday, May 6, 2021 on the Investor Relations section of IAC s website at ir.iac.com. IAC shareholders are expected to meet on May 14, 2021 to vote on the proposal to effect the Spin-off of Vimeo. If approved, we expect post-spin Vimeo to begin trading on Nasdaq (ticker symbol VMEO ) on May 25, 2021, after trading on a when-issued basis on May 18th through May 24th.