Vimeo

History

2021

Entry to the Nasdaq exchange, estimated at $8 billion

At the end of May 2021, InterActive Corporation (IAC) allocated Vimeo to an independent public company - the shares of the video service began to be traded on the Nasdaq exchange under the ticker VMEO.

IAC shareholders received 1.6235 shares of the video service for each IAC share that they own. According to Market Watch, Vimeo shares opened at $47.15 and closed at $45.39 apiece. By the end of trading, Vimeo's market value was about $8 billion.

The video service became the eleventh company to be separated from IAC, among other companies - the travel company Expedia, the developer of the Tinder Match Group, as well as the online lending platform Lending Tree.

Vimeo enters Nasdaq exchange

IAC announced the creation of a board of directors specifically for the new subsidiary. A total of 11 participants:

• Joey Levin (IAC CEO (Chairman of the Board));
• Adam Gross (technology investor and software industry veteran);
• Alesya Haas (CFO Coinbase);
• Kendall Handler (IAC General Counsel);
• Ida Kane (CFO of Appfolio);
• Moe Koifman (founder and general partner of Shine Capital);
• Spike Lee (filmmaker, producer, screenwriter, actor and professor);
• Nabil Mallick (general partner of Thrive Capital);
• Glenn Schiffman (IAC CFO);
• Anjali Sood (Director General of Vimeo);
• George C. Wolfe (playwright, theater and film director).

We will always consider mergers and acquisitions. For new technologies, institutional knowledge and intellectual property that we do not yet have, for incredible teams and talents. We have always used mergers and acquisitions as another lever of development, and we will do this if it makes sense, "said Anjali Sood, Director General of Vimeo Video Service.[1][2]

Attracting $300 million of investments, estimated at $5.7 billion

At the end of January 2021, Vimeo video hosting attracted $300 million in investments for the international expansion of the service. The main investors in the startup were T. Rowe Price Associates, Inc. and Oberndorf Enterprises, LLC, and the company itself was valued at $5.7 billion. IAC (owner of Vimeo) also announced that it plans to allocate Vimeo to an independent public company that will separately appear on the stock exchange.

New investments came in the form of two tranches: $200 million with a preliminary valuation of the company at $5.2 billion and $100 million with a preliminary valuation of $5.7 billion. Capital will provide Vimeo with additional funds for the growth and development of the company with the involvement of new talented employees. Once the company receives the necessary shareholder approval and final board approval, IAC will complete the allocation of Vimeo as a separate company. It is assumed that this will happen at the beginning of the second quarter of 2021.

Vimeo video hosting raised $300 million and was valued at $5.7 billion

The demand for Vimeo cloud software, which offers enterprises a ready-made video solution, continues to grow. Corporate customers include Amazon, Starbucks, Deloitte, Zendesk, Rite Aid and Siemens. In December 2020, Vimeo announced a record high annual revenue growth - by 57%.

People are more interested in video than ever before, and Vimeo takes a good position that allows it to help a wide variety of enterprises that want to use this powerful media medium in the world, "said Vimeo CEO Anjali Sud. - We have created industry-leading solutions and intend to move forward quickly to provide our tools to millions of users.[3]

Notes