[Funding alert] Vimeo raises $300 M ahead of its separate spin-off

Video software company Vimeo, listed as IAC on NASDAQ, has raised $300 million in primary equity from funds and accounts advised by T. Rowe Price Associates, Inc. and Oberndorf Enterprises, LLC at a valuation in excess of $5 billion. The development follows the November 2020 announcement of the company’s $150 million equity raise and IAC’s plan to spin-off Vimeo into an independent, separately-traded public company.The new investment occurred in two tranches, consisting of $200 million at a $5.2 billion pre-money valuation and $100 million at a $5.7 billion pre-money valuation. The capital will provide Vimeo with additional cash to accelerate its investments in growth, innovation, and talent. In its statement, the company said that the company expects to complete the spin-off of Vimeo to IAC shareholders early in the second quarter of 2021.Anjali Sud, CEO, Vimeo said, “As the world embraces video like never before, Vimeo is in an incredibly strong position to help more businesses take advantage of this powerful medium. We have built an industry-leading solution that the market needs, and we intend to move swiftly to bring our professional-quality tools to millions of more users.” Vimeo has more than 200 million users across over 150 countries with 1.5…
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