Vimeo Will Be Spun Off As Independent Company
IAC has announced it will spin Vimeo off as a fully independent, publicly traded company.
Vimeo is a video hosting platform that serves as a major competitor to YouTube, with some 200 million users. Like many streaming platforms, Vimeo has experienced major growth as a result of the pandemic.
IAC is now planning on capitalizing on that success, spinning off Vimeo as an independent company.
“The combination of Vimeo’s remarkable growth, solid leadership position, and enormous market opportunity have made clear its future,” said Joey Levin, CEO, IAC. “It’s time for Vimeo to spread its wings and become a great independent public company.”