New York (CNN Business)Expedia, LendingTree, Ticketmaster and Tinder owner Match were all once part of IAC, the sprawling media and e-commerce conglomerate controlled by mogul Barry Diller. Now, online video platform Vimeo is preparing to be the next big spinoff. IAC (IAC) shareholders are expected to formally approve the split this Friday, paving the way for Vimeo to trade on its own on May 25 under the ticker symbol VMEO. The maker of video software and editing tools for more than 1.6 million subscribers just reported a profitable quarter with revenue of nearly $300 million, a 57% surge from a year ago. The company has also raised $450 million in funding from outside sources, including a November capital infusion from Thrive Capital and Singapore’s sovereign wealth fund GIC. T. Rowe Price invested in January. Those deals value Vimeo at around $6 billion.Spinning off from IAC has worked out well so far for Match (MTCH). Shares are up nearly 35% since the company was fully separated in July 2020. So will Vimeo be able to follow in Match’s footsteps?CNN Business caught up with Vimeo CEO Anjali Sud last week ahead of the upcoming spinoff.Pandemic made video even more crucial for businessesSud…
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Vimeo is ready to be the next big Barry Diller spinoff
