IAC Completes Vimeo Spin-Off | #site_titleIAC Completes Vimeo Spin-Off

IAC Completes Vimeo Spin-Off

Vimeo, Inc. (NASDAQ: VMEO) has debut on the Nasdaq exchange today under the ticker VMEO.  Due to the spin-off IAC’s interest in Vimeo is now directly held by IAC (NASDAQ: IAC) shareholders as Vimeo is a separate public traded company.  This is the 11th public company from IAC in a continuation of a model that has created over USD 100 Billion of shareholder value over the last 25 years.  “It appears there is validation in repetition,” said Barry Diller, Chairman and Senior Executive of IAC. “On to the 12th.”

“The evolution of Vimeo into a thriving independent public company is the embodiment of the IAC way,” said IAC CEO and Vimeo Chairman Joey Levin. “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.”

Said Anjali Sud, CEO of Vimeo, “As a video software solution serving more than 200 million professionals, teams, and organizations, 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.”

IAC at the close of business on May 24th, received 1.6235 shares of VMEO stock for each IAC share held. 

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