IAC announced today that it plans to turn Vimeo into an independent, publicly-traded company.
Last month, IAC CEO Joey Levin wrote a letter to shareholders in which he said the holding company had “begun contemplating spinning Vimeo off to our shareholders.” It sounds like the company has moved beyond the contemplation phase, with plans that will be submitted for stockholder approval in the first quarter of 2021, and the actual spin off happening in Q2.
“The combination of Vimeo’s remarkable growth, solid leadership position, and enormous market opportunity have made clear its future,” Levin said in a statement today. “It’ …
