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World News – USA – Vimeo is emerging as a stand-alone company after booming during the pandemic

. . Owned by IAC for more than a decade.

. .

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Vimeo is spun off into a separate public company as the video streaming site has grown rapidly from the pandemic. Vimeo has been owned by IAC, the giant tech and media holding behind Angie’s List, Ask, Dotdash (formerly About), since shortly after it was founded. com) and until recently the dating app juggernaut Match Group.

IAC expects to complete the spin-off from Vimeo in the second quarter of 2021. « It is time for Vimeo to spread its wings and become a great independent public company, » said Joey Levin, CEO of IAC, in a press release. The spin-off is intended to help Vimeo raise money for further investments in product and sales capacities.

Vimeo was founded in 2004 and has long offered a much more professional alternative to YouTube. On this website, paying members can customize the video player for their films, password-protect videos, create custom websites, integrate with Google Analytics and have multiple team members manage one account. Among other things, this is a role that teams and professionals need more than individuals. Creators can also rent and purchase their films through Vimeo.

The site does not focus on video discovery and vitality as much as it does on YouTube. The free plan comes with significant limitations. Therefore, it has never reached the same order of magnitude as its best-known competitor.

Vimeo says it now has 200 million users (although it’s not clear if that number is total, per month, or something else) and has grown rapidly over the course of 2020. « In the past 7 months, we’ve added over 30 million new members, created and uploaded over 60 million new videos, and supported millions of live events that were digitized for the first time – more than the last three years combined, » said Vimeo CEO Anjali Sud wrote last month.

In November, Vimeo raised $ 150 million and valued the company at $ 2. 75 billion according to CNBC. Sud said the funding would help Vimeo develop new tools for teams and enterprise users, build richer live event capabilities, and add integrations with more third-party platforms, along with building other new tools.

« We’re ready for this next chapter and we’ve focused on making video a lot easier and more effective than ever, » said Sud in today’s press release.

IAC, Vimeo, Stock, spin-off company

World news – USA – Vimeo is developing into an independent company after the boom during the pandemic
. . Related title :
Vimeo becomes one stand-alone company boom during pandemic
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IAC announces plan to spin off Vimeo
IAC shares jump after announcement of Vimeo spin-off
IAC share rises according to plan to spin-off Vimeo as a listed company
>> IAC announces spin-off plan – switch off Vimeo to IAC shareholders
IAC jumps to plan Spin-off of Vimeo video service
IAC plans to spin off Vimeo to shareholders
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IAC shares pop 6% when Vimeo spinoff heads aim for a shareholder vote

Ref: https://www.theverge.com


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