Vimeo, an all-in-one video software solution will begin trading on Nasdaq under the symbol “VMEO.” As a result of the spin-off, IAC’s interest in Vimeo is now held directly by IAC shareholders, and Vimeo is a separate, publicly-traded company.
Vimeo is the 11th public company to emerge from IAC in a continuation of a model that has created US$ 100 billion of shareholder value over the course of 25 years, dating back to when Barry Diller took the helm of Silver King Communications, an early predecessor to IAC, with a US$ 250 million market capitalisation in 1995.
“It appears there is validation in repetition,” said Barry Diller, Chairman and Senior Executive, IAC.
“The evolution of Vimeo into a thriving independent public company is the embodiment of the IAC way,” said Joey Levin, CEO and Vimeo Chairman, IAC.
“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,” added Levin.
Anjali Sud, CEO, Vimeo said, “As a video software solution serving more than 200 million professionals, teams, and organisations, Vimeo is making professional-quality video far easier and more effective than ever before. This is a proud moment for Vimeo, but just the beginning. Looking ahead, as an independent public company, we are well-positioned to keep innovating with urgency to expand our software suite and put the full power of video in the hands of every business and team in the world.”