Led by Indian American chief executive officer Anjali Sud, video hosting platform Vimeo went public May 25, appearing on the NASDAQ, via a spinoff from IAC/InterActiveCorp.In a blog featured on www.Vimeo.com, Sud expressed that “dreams do come true,” in announcing the company going public.“This has been a 16-year labor of love: sparked by a few inspired minds, nurtured by patient investors, and kindled by over a thousand passionate humans who have built, pivoted, innovated, and scaled,” Sud wrote in the blog.“We’ve gone through a lot of change over the years. But what has never changed is our belief in the power of video. We put creators first, and put the power of professional-quality video in the hands of millions. We built an innovative software platform, a wildly creative community, and a strong and resilient business,” she continued.“I don’t think I’ll ever feel more proud of a group of people as I do today,” Sud said.On the first day of trading, however, the YouTube rival Vimeo saw its stock drop 12.85 percent. Vimeo stock began trading on Nasdaq under the symbol “VMEO.” It closed at $45.39 per share, down from its price of $52.08 on May 24. That gives it a…
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Led by Indian American CEO Anjali Sud, Video Hosting Platform Vimeo Goes Public in Spinoff from …
